Peter Obi Says Exit of Multinationals Cost Nigeria N95 Trillion in 5 Years

• Peter Obi, the 2023 Labour Party presidential candidate, revealed that Nigeria has lost N95 trillion
• Obi said this is due to the departure of multinational companies over the past five years
• Obi emphasized that these departures signify broader governance issues and called on Nigerian leaders to address them promptly

Peter Obi, the 2023 Labour Party presidential candidate, stated that the departure of multinational companies from Nigeria has cost the nation N95 trillion over the past five years.

Obi expressed concern about the exit of over ten major companies in the past year alone.

Legit.ng recalls that GlaxoSmithKline Consumer Nigeria Plc recently announced plans to shut down its operations in the country, including 4 others.

He made this disclosure on his social media X handle on Monday, June 24.

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Obi said:

"I feel 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."

Obi: exiting of these companies not coincidental

Obi emphasized that these departures are not coincidental but indicative of a broader governance issue.

Obi urged Nigerian leaders to take action to address the trend of multinational companies leaving the country.

He stated:

"It is the duty of our leaders, the ones we have entrusted with authority, to promptly tackle these issues."

The former Anambra governor highlighted areas needing improvement, such as fostering a business-friendly environment, enhancing security, stabilizing policies, and lowering energy costs.

He also emphasized the need to "promote a culture of transparency, accountability, and good governance."

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Peter Obi speaks on how Nigeria can remain productive

Earlier, the former Labour Party presidential candidate, Peter Obi, has emphasized the crucial role of committed leadership in fostering national productivity.

Citing the example of Emeka Nnadi, a Nigerian architect based in Canada, who had a community park named after him in Winnipeg's Bridgwater area, Obi underscored the impact of visionary leadership on community development and societal progress.

Legit.ng reported that the former presidential candidate said that Emeka Nnadi was recognized for his pivotal role in transforming approximately 600 hectares of farmland into vibrant neighbourhoods with thousands of homes.

Source: Legit.ng