FMCG firms seek raw materials locally as spiralling costs dampen margins

by | February 12, 2017 7:30 pm

Fast Moving Consumable Goods (FMCGs) firms are intensifying efforts on local sourcing of raw materials as dollar scarcity and weak naira, among others, spiralled production costs hence undermining profit margins. “Nestlé by our estimates procures c.70 percent of its raw materials locally and this will likely increase in coming years,” analysts at CSL Limited said…

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