Weak oil prices and escalating tension over the postponement of the presidential election in Nigeria from February to March resulted in the devaluation of the Naira to 200 to the US Dollar. The dampening of consumer expenditure over the devaluation has had companies like Nestle readjusting their expenditure projections for the current year.
Dharnesh Gordon, Nestle Nigeria’s Chief Executive, has noted the challenges of managing company costs without passing on the costs to the consumer. Nestle has invested $400 million over the past six years into its food and cereal business and looks to spend $200 million over the next 18 months to maintain growth in the region.
Read more: purchase accutane