A fall in the value of the Naira is just one issue making foreign investors wary of investing in Nigeria. Photo: PIUS UTOMI EKPEI / AFP/FileSource: AFPRecord inflation, a sliding naira currency and weak financial structure are keeping investors wary of Nigeria, Africa's largest economy, with some companies even stepping away despite economic reforms under recently-elected President Bola Ahmed Tinubu. But they have also led to a sharp fall in the naira's value against the dollar, and access to foreign currency in Nigeria remains a major problem for foreign companies. In December, the US multinational Procter & Gamble announced that it would halt production in Nigeria after three decades in the country. According to the auditing firm KPMG in an analysis published in January, the departures and restructuring of international companies in Nigeria have "dampened" interest from foreign investors.
