• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigerian Firms Have Bleak Short Term Naira Outlook, Survey Shows

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigerian Firms Have Bleak Short Term Naira Outlook, Survey Shows

Nigerian businesses expect the naira to weaken between now and December but it will appreciate next year, according to a survey by the central bank.

The poll of 1,600 firms showed that they expect the naira to “depreciate in the current month, next month and next three months but appreciate in the next six months,” the Abuja-based Central Bank of Nigeria said in a report published on its website. The survey was conducted in the third week of July.

The local currency has lost about 70% of its value against the dollar since June 2023, when it was allowed to trade more freely in a bid to restore investor confidence in the economy.

Several businesses with dollar obligations, including MTN Group Ltd, the biggest mobile operator in Nigeria, suffered losses as those liabilities ballooned in naira terms due to the currency’ devaluation.

The business expectations survey is a monthly check-up on Nigeria’s leading firms drawn across sectors including manufacturing, construction, energy and services. The central bank reintroduced the report alongside other publications this month as it seeks to broaden public access to economic indicators and foster transparency.

Along with the weakening currency, the firms identified insecurity, high interest rate, insufficient power supply, multiple taxes and corruption as the biggest constraints they face operating in Africa’s most populous nation.

RelatedPosts

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

“Their perception of inflation indicated that they consider the current inflation rate of 34.19% too high,” the central bank said, in reference to June inflation data. The nation’s annual inflation decelerated for the first time in almost two years to 33.4% in July, data released last week showed.

Source: businessdayng
Via: norvanreports
Tags: nairaNigerian firmsNigerian Firms Have Bleak Short Term Naira OutlookOutlookSurvey Shows

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Rewriting the Rulebook: Ghana’s Battle to Restore Currency Credibility

Bank of Ghana Raises GHS 836m in Short-Term Bill Auction at 24.8% Yield

Importers Urged to Use Credit Cards as BoG Tightens Foreign Currency Rules

FirstBank Prepares for 2025 Staff Engagement Empowering People, Shaping Culture, Achieving Targets

Gov’t to Overhaul Investment Law, Create 24-Hour Economy Authority in New Bills to Parliament

Ghana, Singapore Push Cross-Border Payments and SME Ties as Mahama Hails Stabilising Economy

Trending

Features

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

August 28, 2025

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice African...

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

August 28, 2025

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

August 28, 2025

Rewriting the Rulebook: Ghana’s Battle to Restore Currency Credibility

August 28, 2025

Bank of Ghana Raises GHS 836m in Short-Term Bill Auction at 24.8% Yield

August 28, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.