As demand for goods no fit match supply anymore sake of di current economic wahala some foreign companies investment don dey comot for Nigeria.
Foreign companies like Equinor, Kimberly-Clark, P&G, GSK, Bayer, Sanofi and Unilever don leave di fourth-largest economy for Africa in di last four years.
As dem dey comot e dey lead to job loss among di young population.
On Tuesday, Guinness top investor, Diageo announce say dem go sell 58% of dia Guinness Nigeria stake to Tolaram Group.
Diageo wey don dey operate for Nigeria since 1950, record one of dia biggest loss of ova N60 billion within nine-month by di end of March 31,2024, one report show.
Within di last one year, Nigeria CBN don raise loan interest rate for di third time from 18.75% to 26.25% while many household don dey familiar wit inflation increasing on 11.47% on yearly basis.
As Nigeria economy dey face shortage of forex, data on National Bureau of Statistics (NBS) show say, Foreign Direct Investment for Q3 2023 na 16.90% (US$183.97 million).
Millions of Nigerians don raise concern as some foreign companies don dey force to close dia business due to increase in running cost wey dey affect dia profit margin.
Dis don dey further put businesses in tight economic situation and e dey affect di sustainability of local and foreign investment.
Also, Nigeria power crisis crippling inconvenience dey force local and international business to go look for alternative power supply, admit di increase in fuel prices wey don increase dia expenses and reduce profit margin.
In di last decade, Nigerians dey experience worsen living crisis, wit inflation currently on 33.69% in April 2024, many pipo dey suffer job cut and starvation.
Expert chook mouth say poor electricity supply, forex, interest rate, inflation and high cost of production, dey among wetin dey make dis companies sell dia stakes or commot for di kontri.
Professor of Economist, for Olabisi Onabanjo University, Sheriffdeen Tella explain give BBC News Pidgin say companies dey carry dia investment comot from Nigeria becos of high cost of production and depreciation of naira.
E add say interest rate on bank loans dey veri high and wen dem make profit dem go convert am to dia own currency and e no dey profitable for dia company
Professor Tella tok say na stable exchange rate, and electricity go encourage companies make dem stay for di economy to do business.
“Na high cost of production and depreciation of naira dey make dem comot. Exchange rate don worsen and e no dey profitable for business, becos purchasing power of pipo don reduce,” professor Tella tell BBC News Pidgin.
“Power issues also dey important for dia production, but if dem dey do well dem go stay for di kontri.”
Similarly, Paul Alaye, financial expert tok say e dey difficult make companies do business becos of volatility of di market
“No matta wetin dem sell dem no fit get di compensated value of money wey dem bring into di kontri. so, di votality of di forex market dey affect dem.
Oga Alaye explain say starvation go dey across di kontri becos job lost go dey
“Any business wey wan invest e go affect dem, pipo go dey faced wit hunger and job lost.
“Private investment go dey affected base on di interest rate becos di market dey highly affected.
“Nigeria forex market go get more demand dan supply and e go affect investment in di kontri.”
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