Nigerian Companies Record N50.3bn Gain After FX Losses
Ten Nigerian companies in the consumer goods sector recorded a combined gain of N50.3 billion after experiencing massive foreign exchange losses in H1 2024. The turnaround followed the stability in the foreign exchange market and the devaluation of the naira in June 2023.
Companies like Dangote Cement and Dangote Sugar demonstrated resilience by reporting significant FX gains in H1 2025 compared to losses in the previous year. Nigerian Breweries and Nestlé Nigeria also showed improvements in their financial positions due to better currency risk management amid a complex economic environment.
This positive trend reflects the sector's ability to adapt to market dynamics and government reforms.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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