Nestlé Nigeria reported that its liabilities loomed past assets by N78.1 billion (13.4 per cent) last year after a free slide in the value of the naira-stressed operations.
The development threw the company into record loss, according to its audited accounts published on Wednesday.
Total liabilities for 2023 accelerated to N659.8 billion from N384.8 billion a year ago in reaction to a monumental surge in foreign exchange loss.
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