• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 25, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

P&G Exit: More Multinationals Likely To Follow, Warns MAN DG

by Leadership News
2 years ago
in Business
Man
Share on WhatsAppShare on FacebookShare on XTelegram

Following the recent departure of multinational consumer goods giant, Procter & Gamble (P&G), from Nigeria, the Manufacturers Association of Nigeria (MAN) has expressed concern and warned of potential further exits from the sector.

Advertisement

Segun Ajayi-Kadir, Director General of MAN, voiced his disappointment but acknowledged that the exit was not entirely unexpected.

He attributed it to the numerous challenges manufacturers face in the country’s difficult operating environment.

“We received the news with sadness, but it is not totally unexpected,” Ajayi-Kadir said when he appeared on Channels Television’s Sunrise Daily on Monday.

“Manufacturing in any economy is a strategic choice, and the government must decide if it wants the country to be industrialised. If so, it must take all necessary steps to remove the binding constraints that hinder the sector’s performance. Nigeria has not done so, and that is why we see closures.”

RELATED

JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance

Delayed Guidelines Drag Insurance Recapitalisation Process

8 hours ago
Large-cap Stock Drives Local Bourse To N180bn Gains

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

8 hours ago
ADVERTISEMENT

Ajayi-Kadir stressed that the exit of P&G is just the latest in a string of manufacturers leaving the country. He noted the need for the government to take immediate action to address issues like poor infrastructure, inconsistent policies, and limited access to finance.

“This is news because it’s Procter and Gamble, it’s news because it’s GlaxoSmithKline, it’s news because they have been in the country for a very long time,” he said. “But several others have quietly closed down, and the reasons are clearly avoidable.”

While expressing regret over the departure of these large companies, Ajayi-Kadir sees it as an opportunity to focus on promoting local manufacturers. He believes that empowering existing manufacturers will result in a more sustainable and enduring industrial sector.

ADVERTISEMENT

“I think there is a strong lesson to be learned here,” he said. “The big ones that are exiting are the multinationals, and this should send a clear signal to the government. We need to be strategic in what we promote. If you have a challenged local manufacturer, he is not likely to go anywhere. That is why we are saying that foreign direct investment is excellent, but it should come secondary to empowering the local investor, the existing manufacturers, because that is what is enduring.”

The MAN DG concluded by reiterating his concern about the future of the manufacturing sector in Nigeria.

He called for clear and decisive action from the government to prevent further exits and ensure the sector’s long-term success.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Man
SendShare10185Tweet6366Share
ADVERTISEMENT
Previous Post

Bandits Kidnap Mom, 3 Children In Abuja

Next Post

LEADERSHIP Awards: President Bola Tinubu Is Person Of The Year 2023

Leadership News

Leadership News

You May Like

JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance
Business

Delayed Guidelines Drag Insurance Recapitalisation Process

2025/08/25
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

2025/08/25
UBA Bank plc
Business

UBA Customers To Win N150m In Super Savers Promo

2025/08/25
Bureau Rate NIMASA High On Public Service Reforms
Business

NIMASA, Engineers Strengthen Collaboration For Blue Economy Growth

2025/08/25
Ojulari’s First 100 Days at NNPC Ltd: A Bold Start Anchored On Reform, Transparency, And Clean Energy
Business

After 3 Misses, NNPC Sets Nov For AKK Gas Pipeline Completion

2025/08/25
Job Losses: 483,464 Persons Withdraw N247.47bn From Pension Savings
Business

Board Inauguration Beyond Our Control, PenCom Responds To NLC

2025/08/25
Leadership Conference advertisement

LATEST

BBNaija10: Rooboy Becomes Week 5 HoH, Picks Zita As Guest

CVR: Poor Internet Service Mars Exercise In Kwara

2027 Polls: What PDP Must Do To Succeed — BoT

US Comedian Reggie Carroll Shot Dead

Police Nab 8 Suspected Murderers, Kidnappers In Ekiti

Olamijuwon Wins Historic Pamodzi Award

Dr. Tolulope Olagoke Kolawole’s Advocacy on Long-Term Complications of Substance Use Among Nigerian Youths and Adolescents

APC Suspends Top Edo Govt’s Official Over Alleged Anti-party Activities

Gov AbdulRazaq Hails Kwara-born Scientist Over Global HIV Research Grant Win

Why Obasanjo Hated Buhari – Garba Shehu

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.