Nigeria Loses N95 Trillion as Multinationals Exit – Peter Obi

FG Loses N95 Trillion as Multinationals Exit - Peter Obi

Former presidential candidate Peter Obi has sounded the alarm over the massive exodus of multinational companies from Nigeria, resulting in a staggering loss of N95 trillion over the past five years.

In a statement, Obi expressed concern over the departure of over ten major companies in the last year alone, citing reasons such as an unfriendly business environment, insecurity, policy instability, and high energy costs.

The companies that have exited Nigeria include GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, and Diageo.

Obi called on Nigerian leaders to urgently address these challenges, emphasizing the need for a business-friendly environment, prioritized security, stabilized policies, reduced energy costs, transparency, accountability, and good governance.

He stressed the importance of unity and transformation to make Nigeria a beacon of hope and progress in Africa and the world.

The exit of these multinationals has raised concerns about the country’s economic future, with many calling for urgent action to reverse the trend and create a more conducive business environment.

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