Food industry on brink as rising costs, forex crisis trigger mass layoffs

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The Nigerian food industry faces mass layoffs as rising costs and a foreign exchange crisis severely impact companies reliant on imported raw materials. The sector warns of significant economic challenges ahead due to these financial pressures.

According to him: “Most of our companies in the sector depend on imported raw materials. If you narrow it down to exchange rates, it is biting harder, and that is understandable. The post Food industry on brink as rising costs, forex crisis trigger mass layoffs appeared first on Vanguard News.