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    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

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  • Welcome
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    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

    Full text:  PRESIDENT BOLA TINUBU’S STATEMENT ON THE SECOND ANNIVERSARY OF HIS ADMINISTRATION

    Full text: PRESIDENT BOLA TINUBU’S STATEMENT ON THE SECOND ANNIVERSARY OF HIS ADMINISTRATION

    New oral antibiotics to treat complicated urinary infections set for approval-GSK

    New oral antibiotics to treat complicated urinary infections set for approval-GSK

    Again, armed men invade another Abuja estate, many feared abducted

    Again, armed men invade another Abuja estate, many feared abducted

  • Metro News
    Abuja braces for two-week without water as rehabilitation works commence

    Abuja braces for two-week without water as rehabilitation works commence

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Ground rent: FCTA to take ownership of 4,794 revoked properties from Monday

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Apo-Wassa road ready for inauguration on Tinubu’s second anniversary-Wike

    Wike approves recruitment of 34 resident doctors for FCT hospitals

    Wike constitute teams to screen Abuja land tittles

    FG revokes allocation to defaulting national housing programme beneficiaries

    Only two of 445 mass housing developers met FCTA conditions – Official

    Police foil robery operation in Abuja estate

    Police foil robery operation in Abuja estate

  • Latest News
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    Alleged Fraud: Abuja court admits Emefiele to N2 billion bail

    Alleged Fraud: Abuja court admits Emefiele to N2 billion bail

    Tinubu makes  leadership changes at federal varsities

    FG unveils youth confab portal ahead of Tinubu’s re-election campaign

    UN cuts humanitarian aid as funding crisis deepens

    UN cuts humanitarian aid as funding crisis deepens

    Suspected killer of Minnesota lawmaker arrested after two-day manhunt

    Suspected killer of Minnesota lawmaker arrested after two-day manhunt

    Full text:  PRESIDENT BOLA TINUBU’S STATEMENT ON THE SECOND ANNIVERSARY OF HIS ADMINISTRATION

    Benue crisis: Tinubu directs security chiefs to implement earlier directive

    How Trump opposed Israel’s plan to eliminate Iran’s supreme leader Khamenel-Report

    How Trump opposed Israel’s plan to eliminate Iran’s supreme leader Khamenel-Report

    Trending Tags

  • Infotech
    Senate approves restoration of Aniocha North II State Constituency, Delta

    Bill mandating social media platforms to have physical office, records of employees pass second reading at the Senate

    Nigeria investigated  213 privacy breaches in 2024-NDPC

    Nigeria investigated 213 privacy breaches in 2024-NDPC

    FG begins construction of emerging technologies Institute in Kano

    FG begins construction of emerging technologies Institute in Kano

    MTN denies orchestrating poor network to influence FG, labour talk, apologizes for network fluctuations

    MTN shuns Labour-FG committee on tariff review, hike data tariff by 200%

    Disconnections not to frustrate ₦EndBadGovernance Protest-Telcos

    FG receives recommendation on telecoms tarrif hike

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

    Peter Obi donates computers to Adamawa school, canvasses increased knowledge in ICT

  • World conflict & diplomacy
    Iran launch over 100 drones towards Israel as conflict escalates

    Iran launch over 100 drones towards Israel as conflict escalates

    Six nuclear scientists killed in Israel attack on Iran — Reports

    Six nuclear scientists killed in Israel attack on Iran — Reports

    UK backs Morocco’s autonomy plan for Western Sahara

    UK backs Morocco’s autonomy plan for Western Sahara

    New ceasefire deal: Hamas to release 10 Israeli hostages, 18 dead others

    New ceasefire deal: Hamas to release 10 Israeli hostages, 18 dead others

    Kurdish fighters, the PKK announced it is disbanding after 40-year of struggle

    Kurdish fighters, the PKK announced it is disbanding after 40-year of struggle

    STOP, Trump tells Putin after Russia’s deadly Kyiv strike

    STOP, Trump tells Putin after Russia’s deadly Kyiv strike

  • Security
    Obi calls for immediate end to violence against Benue communities

    Obi calls for immediate end to violence against Benue communities

    Police extend deadline for tinted glass permit to August 12

    Police extend deadline for tinted glass permit to August 12

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Tinubu govt assures farmers of security support against bandits, killer herdsmen

    Northern governors, traditional rulers back state police

    Northern governors, traditional rulers back state police

    Senate approves restoration of Aniocha North II State Constituency, Delta

    Senate sets up ad hoc committee for national security summit

    Benue gets new commissioner

    Benue gets new commissioner

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Nigeria’s economy records another setback as ‘Huggies’ makers exits after 15 years

Daily Intel Newspaper by Daily Intel Newspaper
June 1, 2024
Nigeria’s economy records another setback as  ‘Huggies’ makers exits after 15 years

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The American multinational personal care corporation Kimberly-Clark, has announced plans to exit Nigeria after almost 15 years of operations.

The announcement is the latest of the series of multinational companies that has exited the country since President Bola Tinubu took office a year ago.

The companies cited Tinubu’s economic policies as reason for their exit.

The company in a statement on Friday said it it closing its manufacturing facility and commercial office in Lagos and will no longer manufacture, market, or sell its Huggies® and Kotex® products in the country.

“Kimberly-Clark today announces it has made the difficult decision to exit its business in Nigeria after almost 15 years, due to recently refocused company strategic priorities globally as well as economic developments in the country.

“Consistent with Kimberly-Clark’s value of care, the company’s top priority will be to fulfil its obligations and ensure that employees and partners are treated with fairness and respect,”

The company is said to be leaving Nigeria due to unfavourable economic conditions, including high energy costs, expensive raw materials, and reduced customer demand.

The company invested $100 million in a production facility in Ikorodu, Lagos state, but has been producing below capacity since late 2023 due to the harsh economic environment. The high production cost stems from the increased raw material cost since it is import-based, and the company has been unable to sustain operations profitably.

Kimberly-Clark has operated in Nigeria for almost 15 years. The company initially started operations in Nigeria in 2012 but ceased activities after five years in 2019 due to unfavourable economic conditions.

It resumed operations in 2021.

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