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.
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.
Hundreds of significant local and international companies are opening in Nigeria and functioning in the same economy, according to Ajayi, despite the developments.
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.
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:
“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.”
“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.
“The stories of major blue chips and other big businesses that are expanding their production lines to increase output hardly make headlines.
