Procter and Gamble is a household manufacturing company that has headquarters in United States of America with production capacity in many countries including Nigeria.
The company has announced a decision to close down production in Nigeria and focus only on importation. The news came as a shock to many Nigerians at a time when some other foreign companies announced exiting manufacturing directly in Nigeria.
Nigeria is a big market and the largest economy in Africa because of the population of people living in Nigeria. Companies that exit the Manufacturing sector of Nigeria’s economy rarely say they are permanently closing business dealings with Nigeria.
P & G decided to exit Nigeria which will lead closing down of their manufacturing plants, the loss of jobs of people involved in direct labour and other things. The company may be importing goods from nearby countries where they have full production capacity as the company announced they are closing down their production firm to focus on importation.