20,000 jobs lost to exit of 15 firms from Nigeria in three years – NECA


Nigeria Employers’ Consultative Association says 20,000 jobs have been lost to the exit of 15 multinational companies from Africa’s largest economy, Nigeria, in the last three years.


Adewale Oyerinde, the director general of NECA, disclosed this in a recent interview with journalists.


He warned of the dire consequence of massive job loss across sectors in Nigeria due to harsh economic realities.


According to him, the unfortunate situation, if allowed to continue, would worsen insecurity and increase child labour.


“It is worrisome to note that in the last three years, over 15 organisations with a combined value-chain staff strength of over 20,000 employees have either divested or partially closed operations.


“This has dire consequences not only for organised businesses but also for labour, government revenue and the households,” he noted.


GSK, Sanofi, Procter & Gamble, Nampak, Unilever Nigeria, and Procter & Gamble have all announced their exit from Nigeria.


Experts raised alarm over the impact of the development on the country’s economy.

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