Nigeria Faces Employment Crisis as Multinational Companies Pull Out

Nigeria’s economic crisis, driven by the removal of petrol subsidies and FX window unification, has led to the exit of several multinational companies. Diageo, on June 11, announced selling its 58.02% stake in Guinness Nigeria to Tolaram, joining 15 other multinationals like Kimberly-Clark, Procter & Gamble, GlaxoSmithKline, Unilever, and Sanofi-Aventi Nigeria in reducing or... Read More

Investigation Uncovers Job Threat for 40,000 Due to Port Operation Slump Amid Economic Crisis

The maritime sector in Nigeria is facing a severe crisis due to a significant drop in vessel calls at the nation’s ports. This downturn has had a domino effect on various businesses, exacerbating the ongoing forex crisis and inflation that are plaguing the economy. Impact on Maritime Sector Stakeholders The drastic reduction in vessel... Read More