MTN Nigeria is reviewing its tower lease contracts after it lost more money due to the naira’s devaluation than any other company in the country. The telecoms company’s first-quarter forex loss of N656bn follows its N740bn forex loss in 2023.
MTN Nigeria is calling for regulators to allow higher tariffs as the devaluation of the naira and accelerating inflation undermine profitability. The telecoms company,Also receive offers from The Africa ReportBanks, telecommunication firms and alcohol manufacturers operating in Kenya will be the hardest hit as the government proposes a return of higher exci...
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Nigeria: Tinubu At WEF, Says Subsidy Removal, Forex Reform Saved Nigeria From BankruptcyPresident Bola Tinubu, yesterday, said last year's removal of fuel subsidy and current efforts by his administration to manage Nigeria's foreign exchange market were necessary steps that prevented the country from going into bankruptcy.
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Nigeria: Fuel Queues Will Be Cleared By Wednesday Across Nigeria'Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved.'
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Nigeria: Fuel Subsidy Removal Necessary for Nigeria's EconomyPresident Bola Ahmed Tinubu has again defended his administration's decision to remove fuel subsidy in Nigeria, describing it as a necessary action to prevent the country from going bankrupt and to reset the economy on the path to growth.
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Nigeria: 140-Yr-Old Pz Cussons Considers Leaving Africa Over Nigeria's Sales PlungeThere are indications that PZ Cussons Plc may leave Africa after sales plunged in its Nigeria operation.
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