Only One Multinational Firm Has Left Nigeria This Year, Far Fewer Than In Previous Years - Nwani Over the last six years, since 2020, I have been tracking the rate at which multinational firms exit Nigeria. When a multinational leaves, hundreds of local firms are affected, and millions of... Nigerians can face redundancy or unemployment. Over the past five years, an average of about five major multinationals have exited Nigeria each year. In 2023 alone, about seven major companies exited, shut down, or significantly scaled down their operations. In 2026, only one major multinational, Uber, has left Nigeria. To that extent, the data supports the President’s claim that the worst is over. DR. Vincent Nwani, Economist And Investment Specialistshow more

People will just come and be saying all sort of nonsense where is shoprite today ?

Very dumb analysis, so because less firms are leaving means there’s hope? Who replaced the over 20 that left? Are you people even mad

Not only uber. Do more research. The economy is in disarray. The currency as no value

How many multinationals are still operating in Nigeria at this time? When every one of them have left, you still expect them to be leaving the country in high numbers when there are still just a few existing here. You're an evil armchair Economist to present such empty hope to Nigerians.

How many multinationals have left in the past three years? Shouldn't you be worried that one even left this year and threw thousands of Nigerians into the labour market?!

Only one has left because we don't have many again. The others are half dead and they are not doing much in the country again

Arise will hear powerful communication like this and still choose to ve stupid

The question is how many is remaining

In 2026, only one multinational company left Nigeria. Please tell Nigerians how many that came to Nigeria in 2026. I never believed that somebody can celebrate degradation in life. To please your slave masters, you have been counting those that left but failed to count those that came in. How foolish are you?

TravelStart also left this year..

The "average of five major multinationals leaving Nigeria every year" claim needs a proper definition. Nwani's own historical figures refer to much larger numbers of companies. 1/

Was @ruffydfire in the studio when this speaker made this assertion that only one multinational has left Nigeria since 2025 till date. Because Rufai Oseni posted on X here that over 10 multinational companies exited Nigeria. Rufai Oseni the empirical False journalist

So Mr economist what should we be expecting subsequently?

Look at the list that left before 2023.. Look at those leaving from 2023 onwards; and some major players are not even on the list. Even if you have Uber for now; which replaced those who left? Or do they not understand they have to be in here first before they can leave??

Shoprite left in March, Procter & Gamble stopped local manufacturing, GSK now into 3rd Party distribution, Pick n Pay, Bolt food, PZ cussons, Diageo and many more scaled down and every reduction or transfer of stake is affecting the Nigerian Labor

The Worst just Began #TMG TINUBU MUST GO….

How will they leave again after they have since 2023

Did they discover how to sqweez the people more?

This man or the station never wanted to show his why

How many is left. You count one cos what left are the ones killing rhe Nigeria Economy

One multinational leaving in 2026 may be true, but that alone does not prove the worst is over. Define exit, publish the year-by-year dataset behind the claimed 5-a-year average, and distinguish outright exits from divestments, production shutdowns and shifts to imports. 1/2

Rubbish analysis

Olodo man. It means there are not many multi nationals left.

With my findings; At least 15 major multinational companies have fully exited, divested from, or significantly scaled back their local manufacturing operations in Nigeria between 2023 and 2026. When extending the timeframe slightly to include the broader trend since 2020, reports indicate that over 70 multinational and prominent corporate entities have either left or substantially reduced their presence in the country. Key Departures and Scale-Backs (2023–2026) • Uber: Ceased its ride-hailing operations in Nigeria in September 2026. • Equinor: Fully exited the Nigerian energy market in 2024 by selling its local assets to Chappal Energies. • Kimberly-Clark: Closed its manufacturing plant and office in Lagos in 2024. • Procter & Gamble (P&G): Ended decades of local manufacturing in late 2023 to transition to an import-only distribution model. • GlaxoSmithKline (GSK) Consumer Nigeria: Discontinued direct operations and transitioned to third-party distribution partners. • Sanofi-Aventis: Exited direct commercial operations in early 2024, shifting to a third-party distributor model. • Bolt Food & Jumia Food: Discontinued online food delivery operations to cut regional losses. • Diageo / Guinness Nigeria: Sold its controlling stake in Guinness Nigeria to Tolaram in 2024, shifting direct ownership structure. • Pick n Pay: Sold its 51% stake and withdrew from its Nigerian joint venture in 2024. Primary Drivers • Foreign Exchange Scarcity: Severe shortages in accessing US dollars made it difficult to import raw materials or repatriate profits. • Currency Devaluation: Steep volatility and depreciation of the Nigerian Naira drastically increased the cost of operation. • Rising Operational Pressures: High inflation, escalating energy and fuel costs, and weak consumer purchasing power. Don't mind the foolish man.

🗣️ senseless analysis

Jokers how many are supposed to leave before it’s a serious concern?and how many has come since president Tinubu came in?

Gestation period.

There’s not many left to leave so what’s his point?

Lolz chai