The Labor Party’s presidential candidate in the 2023 elections, Peter Obi, lamented the current government’s unfavorable policies that are encouraging the exit of multinational companies from Nigeria.
In a post on his X account on Monday, the former Anambra State Governor claimed that the exit of the company had cost Nigeria over N95 trillion in revenue.
He wrote:
“I am driven to address the alarming exodus of multinational companies from Nigeria, which has cost our country N95 trillion in the last five years.
“According to The New Telegraph, in the last year alone, more than 10 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, for very consistent reasons.
“According to The Punch, multinational companies are leaving Nigeria because of the bad business climate.
“The Guardian reports, insecurity, high energy costs are forcing companies to leave Nigeria.
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“The nation declares; ‘Poor business environment, inconsistent policies are driving companies out of Nigeria.
“These companies have highlighted the same issues across the board. It is clear that these problems are not a coincidence, but are symptoms of larger governance problems. Why don’t we face and solve this problem directly?
“The responsibility lies with our leadership, those we tasked with immediately addressing these challenges. To overcome this problem, it is necessary to create a business-friendly environment that encourages investment, innovation and growth.
“This includes prioritizing security, stabilizing our policies, and reducing energy costs. We must also foster a culture of transparency, accountability and good governance. We can build an economy that benefits all Nigerians, not just a privileged few.
“Let us unite to transform Nigeria into a country conducive to business, attractive to investment, safe and prosperous for all citizens. Together, we can make Nigeria a beacon of hope and progress in Africa and the world.
“A new, business-friendly Nigeria is possible.”
I am driven to address the alarming exodus of multinational companies from Nigeria, which has cost our country N95 trillion in the last five years. According to The New Telegraph, in the past year alone, more than ten multinational giants such as GlaxoSmithKline,
— Peter Obi (@PeterObi) June 24, 2024
The post FG’s unfortunate policy of driving multinationals out of Nigeria – Obi appeared first on Latest Nigerian News | Top News from Ripples Nigeria.
