Fact-Checking Claims That Major Companies Have Left Nigeria

I agree that Nigeria’s economic management has created serious problems for businesses. However, several claims that companies have completely left the country need more context. Some firms, including Shoprite, Guinness, Sanofi, Shell, TotalEnergies, ExxonMobil and Etisalat, largely divested specific operations, changed ownership, moved to distributors, or refocused on other parts of their business. Their brands, products or services remain available in Nigeria in different forms. Other exits and shutdowns were more damaging. Kimberly-Clark’s factory closure, GSK’s exit from local manufacturing, P&G’s shift toward imports, and the closure of food-delivery platforms led to lost jobs and reduced local production. These are serious setbacks, even where alternatives still exist. Nigeria still needs to address forex instability, inflation, high operating costs and weak incentives for manufacturers. The bigger concern is not only which firms leave, but why the country is struggling to attract and retain major manufacturing investment.

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