Sentences with phrase «naira devaluation»
He held that the company's performance this year was impacted by two major factors of tough economic challenges around consumer spending, which according to him driving consumer preferences towards value brands across the sector as well as the effects of FX policy and Naira devaluation.
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Notwithstanding the impact of Naira devaluation and double digit inflation in Nigeria and a number of other African countries where UBA operates, the Group managed through its cost lines to deliver a sterling Profit Before tax (PBT) ofN57.5 billion, representing a significant growth of 65.5 percent over N34.8 billion recorded in the corresponding period of June 2016.
Not exact matches
«We urge him to do everything within his power to strengthen Naira which has been facing unprecedented devaluation since its emergence in order to bring the much awaited relief to the people who have been groaning under the yoke of the economic recession.»
It was reported around December, 2014, Dangote faced the same lose from his fortunes as nearly 10 % devaluation of the Naira.
According to the report on Wednesday, Dangote lost $ 4.9 bn or one - third of his wealth as the combined effect of falling oil prices and the June devaluation of the naira pushed him to No. 112 on the billionaires» list with $ 10.4 bn.