14/12/2023
5 Companies exit Nigeria's Business space 2023.
Five Multinational Companies have announced their exit from the Business space in Nigeria at the end of the year 2023. They include:
Procter & Gamble
Unilever Nig
Jumia Food.
Bolt Foods
GSK
The international firms are planning to exit Nigeria as a result of the power crisis, coupled with the unpredictability of the country’s foreign exchange rate before it was recently unified.
Their inability to repatriate funds in Nigeria
and the unpredictable local currency against foreign currencies has triggered multinationals to bid the country goodbye.
No fewer than 6,000 jobs are expected to be lost as five notable companies shut their production factories in Nigeria.