Former Anambra State governor Peter Obi has raised concerns over the alarming departure of multinational companies from Nigeria, citing a loss of N95 trillion over the past five years, News About Nigeria reports.
He attributed this trend to poor governance and an unfavourable business environment in a series of tweets on Monday morning.
Peter Obi said that in the last year alone, more than ten major companies, including GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, and Diageo, have exited Nigeria.
“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.”
“These companies have highlighted the same problems across the board. It is clear these issues are not coincidental but symptomatic of a larger governance problem,” he stated.
Obi shared reports from various news outlets that support his claims.
The former urged Nigerian leaders to urgently address these challenges by creating a business-friendly environment that fosters investment, innovation, and growth.
He stressed the need to prioritise security, stabilise policies, and reduce energy costs.
Additionally, he called for a culture of transparency, accountability, and good governance to transform Nigeria into a nation conducive to business and attractive to investment.
“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. A new business friendly Nigeria is possible,” Peter Obi concluded.
