Nigeria lost N95 trillion after the exit of multinational companies, stated Peter Obi.
Peter Obi, the former Labour Party presidential candidate, stated on Monday that Nigeria has lost N95 trillion over the past five years due to the departure of multinational companies.
He expressed concern over the exit of firms such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, Diageo, among others, all citing similar reasons for their departure.
Obi emphasized the need for the government to focus on security, policy stability, and energy cost reduction to encourage multinationals to thrive in Nigeria. In a post, he advocated for a culture of transparency, accountability, and good governance.
"The alarming rate at which multinational companies are leaving Nigeria, costing our nation a staggering N95 trillion in the past five years, cannot be ignored," he wrote.
"In just the last year, over ten such companies have left, according to The New Telegraph, all citing strikingly similar reasons."
The ex-governor of Anambra attributed the exodus to issues in governance and leadership and called on the government to foster a business-friendly environment.
He also urged the Federal Government to make Nigeria a place that is conducive for business and attractive to investors, suggesting that Nigeria has the potential to be a beacon of hope and progress in Africa and globally.
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