N.003NotesSep 15, 20257 min
A founder's frame for FX-volatile markets
How we think about Naira exposure in operating planning.
Every operating plan we write assumes the Naira will move against us at some point during the plan's life. That assumption changes how we price, how we hold inventory, and how we structure supplier contracts.
We do not hedge with financial instruments. We hedge with structure: dollar-denominated procurement matched against Naira-denominated revenue where possible, and enough operating margin that a single bad quarter of currency movement does not force a fire sale.
This note is a short frame for founders operating in similarly volatile markets — not a prediction about where the Naira goes next.
By The team