If a firm runs two branches of the same business in South Africa and Nigeria -- and both businesses are hitting identical figures as revenue in the respective local currencies -- the South African entity would, at the moment, be earning roughly USD 26 Mn for every USD 1 Mn the Nigerian branch manages to muster.
If a foreign multinational saw its profit in Nigeria move from NGN 364 Mn last year to NGN 450 Mn this year, that firm hasn’t seen any profit growth.
