About sixty-one per cent of companies
operating across 13 sectors of the Nigerian economy recorded huge
declining sales over the past 12 to 18 months due to limited
availability of foreign exchange and slower economic growth, a new
report has found.
The report, which was unveiled in Lagos
on Thursday, revealed that 42 per cent of the companies had been
implementing aggressive cost-cutting measures, while 18 per cent were
already sacking staff.
Commissioned by the Lagos Chamber of Commerce and Industry, the survey was conducted by PricewaterhouseCoopers.
