The 2023 Labour Party presidential candidate, Peter Obi said Monday that exodus of multinational companies from Nigeria has cost our nation a staggering N95 trillion in the past five years.
Obi stated this in a statement via his X handle, noting that the “departures are not coincidental but symptomatic of a larger governance problem.”
He regretted the departure of over ten major companies in the last year alone, including GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, and Diageo.
Obi stated, “I am compelled to address the alarming exodus of multinational companies from Nigeria, which has cost our nation a staggering N95 trillion in the past five years.
“According to The New Telegraph, in the last year alone, over ten multinational giants such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, and Kimberly-Clark, Diageo and others, have exited Nigeria, citing eerily consistent reasons.”
The former Anambra governor called for action from the authorities, saying Nigerian leaders must address the trend of multinational companies leaving Nigeria.
“The responsibility lies with our leadership, those we put in charge to urgently address these challenges,” he said.
Obi pointed out that areas for improvement, included creating a business-friendly environment, prioritising security, stabilising policies, and reducing energy costs.
He further underlined the need for unity and “cultivating a culture of transparency, accountability, and good governance.”
“Let us unite to transform Nigeria into a nation conducive to business, attractive to investment, safe and prosperous for all citizens.
Together, we can make Nigeria a beacon of hope and progress in Africa and the world,” he said.
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