As Nigerian President Bola Ahmed Tinubu travels globally to attract investors, some companies are exiting the country for various reasons.
Similar to GlaxoSmithKline (GSK) Consumer Nigeria Plc, which announced plans to cease operations and transfer its business activities to a third-party organization in August 2023, Kimberly-Clark, the makers of Huggies, has declared its intention to stop local manufacturing and sales in Nigeria.
In a statement released to the press on Friday, May 31, 2024, Kimberly-Clark attributed its decision to recent changes in global corporate priorities and economic developments within Nigeria.
“Kimberly-Clark today announces it has made the difficult decision to exit its business in Nigeria after almost 15 years, due to recently refocused company strategic priorities globally as well as economic developments in the country,” the statement read.
“Kimberly-Clark will close its manufacturing facility and commercial office in Lagos and will no longer manufacture, market, or sell its Huggies and Kotex products in the country.”
The departure of Kimberly-Clark adds to a growing list of companies that have exited Nigeria recently. Sanofi-Aventis Nigeria Limited halted its operations in November 2023, and Procter & Gamble (P&G), an American multinational consumer goods company, announced its exit plans in December 2023.
