ABUJA – Peter Obi, Labour Party’s presidential candidate in the 2023 has lamented the loss of 95 trillion naira in the last five years, from Nigeria, following the exit of multinational companies from the country. Obi in a series of publications on his X handle on Monday, stated that in 2023 alone, “over ten multinational giants such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, and Kimberly-Clark, Diageo and others, have exited Nigeria, citing eerily consistent reasons.” He cited a media publication which shows that “Multinational firms exit Nigeria over harsh business climate,” as he listed.
“Insecurity, high energy costs, poor business environment, inconsistent policies drive,” as among reasons that force companies out of Nigeria. While regretting that the exited companies gave the same problems as reasons for their exit, the former Anambra state governor explained that “these issues are not coincidental but symptomatic of a larger governance problem” While wondering why the government was not facing and solving these problems head-on, he insisted that the responsibility of correcting the ills lies with those who are put in charge. “Tackling these issues requires creating a business-friendly environment that fosters investment, innovation, and growth.
“This includes prioritizing security, stabilizing our policies, and reducing energy costs. We must also cultivate a culture of transparency, accounta.
