Again, Nigerian lawmakers move to probe mass exit of foreign companies

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The yet-to-be-constituted committee was also mandated to recommend measures to halt the exit of foreign companies from Nigeria.

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It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.The legislator, who represents Ikorodu Federal Constituency of Lagos State, said the company employs 10,000 people in direct and indirect jobs at their factory in Ikorodu, Lagos State.

Mr Benson proposed that the management of Kimberly-Clark should rescind its decision to close down its business and exit the Nigerian business environment pending intervention by the House. The motion was adopted as amended when it was put to vote by the presiding officer, Deputy Speaker Ben Kalu.P&G, the maker of iconic brands including Pampers, Gillette, Ariel, Always, and Oral-B, could incur charges anywhere between $1 billion and $1.5 billion after-tax from restructuring its operations in Nigeria and Argentina, two markets where business has been problematic for the corporation.

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