The naira depreciated further on Tuesday as it exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$.
The naira has maintained a downward trend since the Central Bank of Nigeria allowed a free float of the national currency against the dollar and other global currencies in June.
This decline has further led to manufacturers struggling to get raw materials, with more companies planning to sack more workers or shut down.
With the declining naira value, manufacturers are faced with cutting production, jobs, and raw material imports.
Bureau de Change operators said the naira exchanged for the dollar at the parallel market between 1,005/$ and 1,025/$ on Tuesday.
On the Investors & Exporters forex window, official figures from the FMDQ showed that the naira fell slightly and closed at 765.83/$ on Tuesday from 765.02/$ on Monday. The official market recorded a total turnover of $60.30m.
