The plan for Procter & Gamble (P&G), an American global consumer products company, to leave the nation has been met with grief by the Presidency.
According to Anaedoonline.ng, the business declared on Wednesday that it would begin importing and would be discontinuing its manufacturing operations in Nigeria.
The corporation bemoaned how tough it is getting to conduct business in Nigeria as a result of problems with the macroeconomic climate and the Dollar Naira exchange rates.
UPDATE: Atiku Reacts To GlaxoSmithKline (GSK) Exit From Nigeria After 51 Years
Temitope Ajayi, the Senior Special Assistant to President Bola Tinubu on Media and Publicity, responded to the news of the American company leaving Nigeria in a post on his X handle on Thursday. He called it unfortunate.
Hundreds of significant local and international companies are opening in Nigeria and functioning in the same economy, according to Ajayi, despite the developments.
He said that it is rare to find articles about large blue chips and other corporations growing their production lines in order to boost productivity.
He wrote: “Just like that of GSK, the news of Procter & Gamble leaving Nigeria is dominating the airwaves. As sad as such news may appear it is important to also note that hundreds of high impact local and multinational businesses are opening in Nigeria, in the same economy.
Banks And 18 Others fined N125m For Late Filings
“The stories of major blue chips and other big businesses that are expanding their production lines to increase output hardly make headlines.
“One foreign business decides to leave Nigeria, for whatever reasons, it will dominate mainstream media and social media as if the country is going into extinction.
“Businesses – both small and big file for bankruptcy and close shop, every other day, in America, Europe and other countries. That a business decides to leave a jurisdiction or wind down operations does not necessarily mean an inclement environment. A business can fail as a result of bad management and wrong investment decisions.”
Follow us on Facebook
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.