After a turbulent two years of currency swings with high foreign exchange losses and ballooning finance costs, many Nigerian companies are back in the black.
The naira’s relative stability in 2025 has slashed foreign exchange losses even delivering FX gains for some pushing headline profits higher in the first half of the year.
But profits alone do not tell the whole story. The real test of financial strength lies in the cash a business generates from its day-to-day operations.
