As the Nigerian President Bola Ahmed Tinubu moves across the globe to attract investors, some companies in the county are exiting for reasons best known to them.
Like GlaxoSmithKline (GSK) Consumer Nigeria Plc, that announced plans to cease operations and transferring its business activities to a third-party organization in August 2023, Kimberly-Clark, makers of Huggies, on Friday made public its plans to stop local manufacturing and sales in Nigeria.
Huggies plans was disclosed in a statement made known to newsmen.
The company noted that its decision to leave the country was made owing to its recently refocused corporate priorities globally.
Read part of the statement: “Kimberly-Clark today announces it has made the difficult decision to exit its business in Nigeria after almost 15 years, due to recently refocused company strategic priorities globally as well as economic developments in the country.
“Kimberly-Clark will close its manufacturing facility and commercial office in Lagos and will no longer manufacture, market, or sell its Huggies and Kotex products in the country.”
Other companies that had exited Nigeria in recent times include: Sanofi-Aventis Nigeria Limited, which halted its operation in November 2023.
Procter & Gamble (P&G), an American multinational consumer goods company, which announced it exit plans in December 2023.
