Throughout 2023, Nigeria’s business environment grappled with unprecedented challenges, chiefly influenced by the complexities of an election year.
Uncertainties surrounding election outcomes and policy directions led investors to adopt a cautious stance, influencing significant long-term investment decisions.
The year kicked off with artificial cash scarcity and a botched currency note redesign, initially hampering consumer spending.
Economic recovery in the second quarter was marred by the removal of fuel subsidies and the unification of the foreign exchange market, resulting in soaring inflation and considerable depreciation of the naira.
These macroeconomic hurdles, compounded by longstanding national issues, triggered a notable departure of companies from Nigeria in 2023.
Here’s an overview of significant exits: READ MORE
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