Manufacturing companies, especially those under the Fast-Moving Consumer Goods (FMCG) sector, have extended last year’s losses into the first quarter (Q1) with financial reports of four firms in the sector reporting combined foreign exchange (FX) losses of about N300 billion.For Nestle, naira devaluation in Q1, 2024 caused the company a net loss of N142.7 billion.
Source:
Business News | Guardian Nigeria