Obi explained that the reasons being adduced by these departing firms after many years of operations in Nigeria were similar and largely governance-related problems that required urgent attention to stem the tide.
”According to The New Telegraph, in the last year alone, over ten multinational giants such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, Diageo and others, have exited Nigeria, citing eerily consistent reasons. “The Nation states, ‘poor business environment, inconsistent policies drive companies out of Nigeria.’ These companies have highlighted the same problems across the board. These issues are not coincidental but symptomatic of a larger governance problem.
“Tackling these issues requires creating a business-friendly environment that fosters investment, innovation and growth.