Rising operating cost and low purchasing power compounded by the removal of petrol subsidy and floating of the naira are taking a heavy toll on the profitability of businesses across the critical sectors of the Nigerian economy with no end in sight, available statistics have shown.
Although the government and some deposit money banks have recorded unsustainable gains from the forex unification policy in form of exchange difference revenue, a number of manufacturers are reporting significant FX losses as a result of the policy.
