News
Naira Forecasted to Depreciate to N1,993/USD by 2028, Threatening Nigeria’s Medical Device Market
The Naira is projected to depreciate to N1,993 per US dollar by 2028, according to a new report by BMI Research, a subsidiary of Fitch Solutions.
This forecast highlights the growing challenges Nigeria faces in importing critical medical supplies due to the weakening of its currency and ongoing structural issues within the healthcare system.
The report, titled “Weak Naira and Structural Challenges to Constrain Nigeria’s Medical Devices Market Growth”, indicates that the Naira’s depreciation will significantly affect Nigeria’s medical device sector.
With over 95% of medical devices in the country imported, the weakened Naira will increase import costs and erode the purchasing power of both healthcare providers and patients, especially in a public health sector that is already underfunded.
BMI’s projection sees the Naira falling from its current value of about N1,700 to N1,993 by 2028. Although this marks a relatively modest depreciation, the report suggests that the weakening currency will continue to drive up the cost of medical devices, particularly high-cost products like diagnostics, orthopaedics, and dental equipment.
While the depreciation poses a serious challenge to the medical sector, there is some optimism for local manufacturers. A weaker Naira could make domestically produced medical devices more competitive, potentially stimulating growth in that segment.
Despite the forecasted depreciation, the report predicts a gradual economic rebound, though the medical device market will continue to face operational and demand constraints in the short term.
News
Man Found Alive Nearly Two Weeks After Balogun Market Fire Incident
An update has been shared on the burnt building at Balogun Market on Lagos Island, as it was revealed that a man was rescued 11 days after the building caught fire.
According to reports, the man was found alive on January 6, 2026, after being discovered under the rubble of the collapsed structure.
The survivor has since been taken for proper medical care, while further details are yet to be released.
Meanwhile, passersby and market traders have expressed concern, fearing that more people may still be trapped alive inside the building.
News
Anthony Joshua Discharged from Hospital After Fatal Car Crash
It has been reported that Anthony Joshua has officially been discharged from the hospital following the terrible car crash that claimed the lives of his two closest friends and supporters.
The boxing star was deemed stable enough to go home after the accident. After his discharge, he visited the funeral to pay his respects and see the bodies of his two friends.
Many have expressed grief and offered their support to the boxing star, praying that he will be able to find peace, as grief will undoubtedly be one of the most painful challenges he will face in life.
News
‘Government Prioritizes Money More’ — PDP Calls Out FG On New Tax Law
It has been shared that the Peoples Democratic Party (PDP) is calling on the federal government to suspend the tax law set to take effect on January 1, 2026.
This was revealed in a statement released by Ini Ememobong, National Publicity Secretary of the PDP. He stated that this new law shows how Nigerians and the masses will be affected, arguing that the government is prioritizing finance over security and other pressing matters.
“Rather than address these issues comprehensively, the Presidency has consciously minimized them and instead insisted that the commencement date must stand, despite the discrepancies,” the party said, adding that this “clearly shows where the priority of the government lies between Nigerians and money.”
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