Wine is one of the utmost popular drinks consumed worldwide. The escalating demand for wine, because of its unusual taste and health assistances is one of the key aspects boosting the growth of the global wine market. The global wine mar…
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.