Real reasons multinational companies are leaving Nigeria – Experts

Multinational companies are increasingly exiting or scaling back operations in Nigeria as high operating costs, weak consumer purchasing power and regulatory uncertainties erode profitability.

According to DAILY POST, nearly 75 companies have exited or significantly reduced their Nigerian presence since 2020, with Uber among the latest.

Financial experts Godwin Oyedokun and Gbolade Idakolo said improved macroeconomic indicators had yet to translate into meaningful relief for businesses.

They cited high energy and financing costs, exchange-rate risks, infrastructure gaps and declining purchasing power as major challenges. Oyedokun urged government to turn economic stabilisation into genuine competitiveness capable of attracting investment, creating jobs and strengthening businesses.