Wednesday
December 13
2023

Why Consumer Goods Multinationals Are Fleeing Nigeria

By Alexander Onukwue

Multinational companies are cutting back their presence in Nigeria or pulling out altogether as currency problems hamper their operations and hurt consumers.

Procter & Gamble, an Ohio-based consumer goods giant, last week became the latest big company to scale down its operations. It said it will stop producing its care and hygiene products in the continent’s most populous country.

Photo courtesy of Shardayyy.

Source: Semafor (link opens in a new window)

Categories
Finance
Tags
business development, corporations, hygiene, scale