Nigeria’s Future Is Bright, Let’s Work Together – Peter Obi

The 2023 Labour Party presidential candidate, Peter Obi, on Monday, called on all Nigerians to come together and transform the nation.

He also called for action among leaders to address the trend of multinational companies leaving Nigeria, stating that it has resulted in an estimated N95 trillion loss over the past five years.

Obi, in a statement on Monday via X, highlighted the departure of over ten major companies in the last year alone, including GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, Kimberly-Clark, and Diageo.

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Citing various news sources, Obi pointed out the recurring reasons for these exits.

“I am 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.

“According to The New Telegraph, in the last year alone, over ten multinational giants such as GlaxoSmithKline, Equinor, Sanofi-Aventis, Bolt Food, Procter & Gamble, Jumia Food, PZ Cussons, and Kimberly-Clark, Diageo and others, have exited Nigeria, citing eerily consistent reasons.”

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He noted that according to The Punch, “Multinational firms exit Nigeria over harsh business climate.” The Guardian reports, “Insecurity, high energy costs force companies to leave Nigeria.” The Nation states, “Poor business environment, inconsistent policies drive companies out of Nigeria.”

Obi further emphasised the nature of these problems, saying, “It is clear these issues are not coincidental but symptomatic of a larger governance problem.”

He further called for immediate action from leadership, stating, “The responsibility lies with our leadership, those we put in charge to urgently address these challenges.”

The former Anambra governor outlined areas for improvement, including creating a business-friendly environment, prioritising security, stabilising policies, and reducing energy costs.

He also stressed the importance of “cultivating a culture of transparency, accountability, and good governance.”

Obi further called for unity and transformation, stating, “Let us unite to transform Nigeria into a nation conducive to business, attractive to investment, safe and prosperous for all citizens. Together, we can make Nigeria a beacon of hope and progress in Africa and the world.”