By Flora Ayodeji
Lagos, Nigeria – A chieftain of the All Progressives Congress (APC), Chief Taiwo Oke, has expressed concern that the recent exit of multinational companies from Nigeria will exacerbate the country’s economic crisis.
In an interview with Punch Newspaper on June 30, 2024, Oke stated that the departure of these companies will lead to significant job losses, reduced economic activity, and decreased government revenue.
“The exit of these multinationals is a clear indication of the worsening economic situation in Nigeria,” Oke said. “The government needs to take urgent steps to address the challenges facing the economy, otherwise, we risk plunging into a deeper economic crisis.”
Oke attributed the exit of the multinationals to the harsh business environment, poor infrastructure, and inconsistent government policies. He urged the government to prioritize economic reforms, improve the business environment, and provide incentives to attract foreign investment. “The government needs to act fast to restore investor confidence and prevent further economic downturn,” Oke warned.
The high-stakes debate was seen as a crucial moment in the presidential race, with polls showing a tight contest between the two candidates. Political analysts say the debate performance could sway undecided voters and potentially impact the outcome of the election.