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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