This is also as the recent exit of multinational companies from Nigeria has been described as a worrisome development. This appeal was made by Olatunbosun Oyintiloye, a chieftain of the All Progressives Congress, APC in Osun State while speaking with journalists on Sunday in Osogbo. Oyintiloye said that the continuous exit of multinational companies in Nigeria, if not checked, could lead to reduction in foreign investment inflows, massive job losses, reduction in economic output, among others.
'These companies left mainly because of heightened insecurity in the Niger Delta and inability of the government to provide their counterpart funds to enable the joint venture agreements to explore and exploit new oilfields,' he said. Oyintiloye held that the exit of these companies would not only result job losses but also affects the value chain and decline in the growth of the country's Gross Domestic Products, GDP.