The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: We maintain our view that high inflation, a depreciating naira and the ongoing liquidity crisis
will result in a 45.0% contraction in vehicle sales in 2016.
- A depreciating currency will continue putting upward pressure on the prices of imported vehicles and
- The ongoing dollar shortage will hamper vehicle manufacturing as a lack of access to hard currency
slows down operations.
- The removal of fuel subsidies, and the resulting increase in fuel prices in Nigeria, will continue to keep
inflationary pressures high in the country, reducing consumer purchasing power and keeping vehicle
running costs high.