Peter Obi, the distinguished presidential candidate of the Labour Party in the upcoming 2023 general elections, has expressed deep concern over the far-reaching consequences of the withdrawal of multinational corporations from various sectors of Nigeria’s economy.
In a statement issued through his verified media handle, Peter Obi highlighted the staggering economic loss of N95 trillion that Nigeria has suffered over the past five years as a result of these departures.
This alarming exodus demands immediate attention and concerted efforts from the nation’s leadership to reverse this worrisome trend.
Peter Obi’s powerful words resonate with the urgency of the situation: “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.”
Multiple media reports have drawn attention to the magnitude of this issue. Over the course of the last year alone, more than ten multinational giants have bid farewell to Nigeria, citing eerily consistent reasons for their departure.
Furthermore, national dailies have shed light on the factors contributing to this exodus. One report highlights the harsh business climate as a major deterrent, while another points to insecurity and high energy costs as significant driving forces behind these departures.
Yet another publication underscores the detrimental impact of the poor business environment and inconsistent policies on the decision of these companies to exit Nigeria.
Peter Obi, with a sense of urgency, questions the failure to address these challenges head-on: “The responsibility lies with our leadership, those we have entrusted to urgently address these problems.
We must confront and resolve these issues in order to create a business-friendly environment that fosters investment, innovation, and growth.”
To address this critical situation, Peter Obi calls for the prioritization of security, the stabilization of policies, and the reduction of energy costs.
He emphasizes the need to cultivate a culture of transparency, accountability, and good governance. By doing so, Nigeria can build an inclusive economy that benefits all Nigerians, transcending the interests of a privileged few.
The departure of multinational corporations from Nigeria is a grave concern that demands immediate action. Peter Obi’s call to arms resonates with the urgency of the situation, urging the nation’s leadership to rise to the occasion and reverse this trend, ensuring a prosperous future for Nigeria and its people.
