Due the collapse of the Nigerian economy and bad leadership of former President Muhammadu Buhari and President Ahmed Tinubu’s led APC government, have decided to leave Nigeria to other countries with conducive economic conditions for better operations .
In 2020, more than ten companies left the Nigerian market. Some of the major business entities included Standard Biscuits Nigeria Ltd, Nasco Fiber Product Ltd,
Union Trading Company Nigeria PLC, Deli Foods Nigeria Ltd.
The following business organizations in 2021 departed Nigeria. Tower Aluminium Nigeria PLC, Framan Industries Ltd, Stone Industries Ltd, Mufex Nigeria Company Ltd,Surest Foam Ltd.More joined to depart Nigeria in 2022.
The companies were Universal Rubber Company Ltd,
Mother’s Pride Ventures Ltd,Errand Products Nigeria Ltd, Gorgeous Metal Makers Ltd.
Came 2023,
Unilever Nigeria PLC,
Procter & Gamble Nigeria, GlaxoSmithKline Consumer Nigeria Ltd, Shoprite Nigeria, Sanofi-Aventis Nigeria Ltd, Equinox Nigeria, Bolt Food and Jumia Food Nigeria, exited. It didn’t end there.
In 2024, between January and October, more companies joined the exodus.
Amongst the companies were Microsoft Nigeria, Total Energies Nigeria, impacted by divestment strategies, PZ Cussons Nigeria PLC,Kimberly-Clark Nigeria,Diageo PLC, Pick and Pay etc.
