Peter Obi React To The Exit Of Procter & Gamble (P&G) Consumer Goods Corporation From Nigeria
If you are reading this, Procter & Gamble (P&G) being one of the top multinational producers of consumer goods corporation in the world and top list in Nigeria, has left the West African country Nigeria as Peter Obi Lament
In the comment section, one user said. And this is happening amid several hardships, hunger, and bad economies across Nigeria. God why?
Another user also commented, See quotes below
Those children of BAT are claiming that the reason for the company’s departure is due to competition, that they can’t meet up with the competition on the ground any longer, and that’s why they are leaving
In his reaction, the former governor of Anambra state, the presidential candidate of Labour Party on the just concluded Nigeria general election writes.
A few months ago, I lamented the exit of one of the top global Pharmaceutical giants, GlaxoSmithKline (GSK) from Nigeria. GSK remains a top global pharmaceutical manufacturer and has had 51 years of operations in Nigeria. The reason for their exit was that there was no longer a perceived growth in Nigeria anchored on productivity.
So today, Procter & Gamble (P&G), the world’s largest personnel care and household products company, makers of iconic brands like Pampers, Gillette, etc, is again leaving Nigeria, for the same reason GSK left.
Following this also are French pharmaceutical company Sanofi-Aventis, and top Energy firm, Norwegian behemoth Equinor which sold off its Nigerian business development associates Fifteen years ago
P&G, as they are commonly called, viewed Nigeria as a strategic country of importance and invested millions of dollars in an ultra-modern chain supply structure in Agbara which
ALSO READ: 16 Big Companies That Have Shutdown In Nigeria Due To Bad Economy
Sadly, is now up for sale. The presence of these iconic companies in any economy not only that they signify trust and confidence, but also belief in the medium to long-term
Socio-economic prospects of such countries, but they massively create jobs, invest in Research and Development, as well as pieces of training which smaller players in the industry learn from and adapt. They help, to a great extent to develop local talents for both local and global jobs.
The exit of these top global companies shows that our medium to long-term prospects strategy is in the negative. Our investment profile is not attractive and our business environment is deteriorating continually.
The purchasing power of most Nigerians is nose-diving every day. In the face of the absence of the rule of law, and a conducive business environment, it will be difficult to retain such iconic companies and talk more about attracting new ones to invest in our dear country Nigeria.
Governments at all levels in Nigeria must therefore take immediate steps to ensure that institutions of governance are put in place and actively engaging to show that the situation is reversed.
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National greatness and development cannot be pursued in an atmosphere that is scaring away strategic international investors. -PO
As of the time of writing this report, the post made on Twitter X via his Peter Obi verified account, have gotten over one 1k plus comments, 5k plus thousand retweet, and over 11k plus likes as more Nigerians reacts to this sad development, the exit of Procter & Gamble (P&G) Consumer Goods Corporation From Nigeria
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