International Business Machines (IBM), the American technology giant, has officially exited Nigeria, marking the end of its five-decade-long presence in the country. The company has also withdrawn from Ghana and several other African nations, transferring its operations to a third-party firm.
Under a new agreement, IBM’s regional functions will now be handled by MIBB, a subsidiary of the Midis Group, a multinational IT and telecommunications conglomerate with operations across Europe, the Middle East, and Africa.
In a statement, IBM noted that MIBB will market and sell its products and services in 36 African countries, granting MIBB’s sales network direct access to IBM’s offerings while aiming to foster innovation and growth in the region.
IBM’s departure follows a trend of multinational companies scaling down or leaving Nigeria amid economic challenges. In 2024, Guinness exited the country, while tech giants like Meta and Microsoft reduced their physical presence, opting for shared office spaces.
IBM has played a significant role in Nigeria’s technological development since the 1960s. The company was instrumental in setting up an educational center at the University of Ibadan, contributing to digital capacity-building efforts. Over the years, it has provided infrastructure and consulting services across key industries, including banking, telecommunications, education, oil and gas, and government sectors.
With this transition, Nigeria loses yet another major international player in its corporate landscape, raising further concerns about the country’s economic environment and its ability to retain global businesses.
