{"id":122147,"date":"2024-06-24T11:03:52","date_gmt":"2024-06-24T10:03:52","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi"},"modified":"2024-06-24T13:13:06","modified_gmt":"2024-06-24T12:13:06","slug":"fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi","title":{"rendered":"FG\u2019s unfavourable policies pushing out multinational firms from Nigeria \u2013 Obi"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has lamented that unfavourable policies of the current administration are pushing out multinational companies from Nigeria.<\/p>\n

In a post on his X handle on Monday, the former Anambra State Governor claimed that the exit of the companies have cost Nigeria over N95 trillion in revenue.<\/p>\n

He wrote:<\/p>\n

\u201cI 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.<\/p>\n

\u201cAccording to The New Telegraph, in the last year alone, over 10 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.<\/p>\n

\u201cAccording to The Punch, multinational firms exit Nigeria over harsh business climate.<\/p>\n

\u201cThe Guardian reports, insecurity, high energy costs force companies to leave Nigeria.<\/p>\n

\u201cThe Nation states; \u2018Poor business environment, inconsistent policies drive companies out of Nigeria.<\/p>\n

\u201cThese companies have highlighted the same problems across the board. It is clear these issues are not coincidental but symptomatic of a larger governance problem. Why are we not facing and solving these problems head-on?<\/p>\n

\u201cThe responsibility lies with our leadership, those we put in charge to urgently address these challenges. Tackling these issues requires creating a business-friendly environment that fosters investment, innovation, and growth.<\/p>\n

\u201cThis includes prioritizing security, stabilizing our policies, and reducing energy costs. We must also cultivate a culture of transparency, accountability, and good governance. We can build an economy that benefits all Nigerians, not just a privileged few.<\/p>\n

\u201cLet 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.<\/p>\n

\u201cA new business friendly Nigeria is possible.\u201d<\/p>\n

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,<\/p>\n

\u2014 Peter Obi (@PeterObi) June 24, 2024Balanced, fearless journalism driven by data comes at huge financial costs.<\/p>\n

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.<\/p>\n

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.<\/p>\n

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.<\/p>\n

For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has lamented that unfavourable policies of the current administration are pushing out multinational companies from Nigeria. In a post on his X handle on Monday, the former Anambra State Governor claimed that the exit of the companies have cost […]<\/p>\n","protected":false},"author":84,"featured_media":122146,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[254,222],"class_list":["post-122147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-nigeria","tag-peter-obi"],"yoast_head":"\nFG\u2019s unfavourable policies pushing out multinational firms from Nigeria \u2013 Obi - Nigeria<\/title>\n<meta name=\"description\" content=\"The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has lamented that unfavourable policies ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG\u2019s unfavourable policies pushing out multinational firms from Nigeria \u2013 Obi\" \/>\n<meta property=\"og:description\" content=\"The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has lamented that unfavourable policies ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-24T10:03:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-24T12:13:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1719214712.373933.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"410\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FG\u2019s unfavourable policies pushing out multinational firms from Nigeria \u2013 Obi\",\"datePublished\":\"2024-06-24T10:03:52+00:00\",\"dateModified\":\"2024-06-24T12:13:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\"},\"wordCount\":458,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/06\/sm_1719214712.373933.jpg\",\"keywords\":[\"Nigeria\",\"Peter Obi\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/fgs-unfavourable-policies-pushing-out-multinational-firms-from-nigeria-obi\",\"name\":\"FG\u2019s unfavourable policies pushing out multinational firms from Nigeria \u2013 Obi - 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