From GSK to Uber: Multinationals That Have Left or Scaled Back Operations in Nigeria Since 2023
- Major multinationals are downsizing or restructuring operations amid Nigeria's challenging economic landscape
- Companies like GSK and Procter & Gamble have shifted from local production to third-party distribution models
- Uber's recent exit highlights urgent concerns over Nigeria's investment climate and economic reforms
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Nigeria has witnessed a fresh wave of multinational exits, divestments and operational restructuring since 2023, with some of the world's biggest companies reducing their footprint or abandoning direct operations in the country.
The trend has sparked renewed debate over the cost of doing business in Nigeria, with foreign-exchange shortages, naira volatility, inflation, energy costs and weak consumer purchasing power frequently cited among the pressures confronting companies.
Source: Getty Images
However, not every company described as having “left Nigeria” has completely abandoned the Nigerian market. Some have stopped manufacturing, sold local assets or transferred distribution to third-party partners while their products remain available.
1. GlaxoSmithKline
GlaxoSmithKline (GSK) announced in 2023 that it would discontinue its direct commercialisation model in Nigeria and move to a third-party distribution structure.
The pharmaceutical giant cited challenges associated with its operating model and the country's business environment.
GSK therefore represents a significant withdrawal from direct operations rather than a complete disappearance of its products from Nigeria.
2. Procter & Gamble
Procter & Gamble, the maker of brands such as Pampers and Ariel, stopped local production in Nigeria in 2023.
The company moved toward an import-based model, with P&G citing the difficult macroeconomic environment and challenges facing dollar-denominated businesses.
The decision came amid severe naira volatility and difficulty accessing foreign currency.
3. Unilever
Unilever significantly restructured its Nigerian operations in 2023, including ending local production of some products.
The company had already faced pressure from rising costs and foreign-exchange challenges, with the restructuring reflecting the changing economics of manufacturing in Nigeria.
Unilever remains an important brand in the Nigerian market, so its case is better described as a major operational pullback rather than a complete country exit.
4. Sanofi
French pharmaceutical giant Sanofi also restructured its Nigerian operations in 2023, moving away from aspects of its previous direct operating model.
Like GSK, Sanofi's case demonstrates how multinational pharmaceutical companies have increasingly relied on local partners and distributors to maintain market access without carrying the full cost of direct operations.
5. Equinor
Norwegian energy company Equinor completed its exit from Nigeria's upstream oil sector in 2023, selling its Nigerian business to Chappal Energies.
Unlike some of the FMCG and pharmaceutical examples, this was a clearer corporate exit, although it was also part of a broader portfolio strategy by the energy company.
6. PZ Cussons
PZ Cussons, the British consumer-goods company behind brands including Imperial Leather and Premier, announced major changes to its Nigerian business.
The company explored strategic options for its Nigerian operations amid severe economic pressures, including currency depreciation and rising costs.
Its Nigerian business was subsequently reorganised, making it another example of a multinational reducing or changing its traditional footprint rather than simply shutting down overnight.
7. Kimberly-Clark
Kimberly-Clark, the company behind Huggies and other consumer brands, ceased its local manufacturing operations in Nigeria in 2024.
The company subsequently shifted toward serving the market through imports and other arrangements.
Its withdrawal from local production added to concerns about Nigeria's ability to retain large-scale manufacturing investment.
8. Diageo and Guinness Nigeria
Diageo, the global drinks giant, sold its controlling stake in Guinness Nigeria in 2024 to Tolaram.
The transaction changed the ownership structure of one of Nigeria's best-known beverage businesses.
Guinness products remain in Nigeria, but Diageo's exit from direct ownership represents another major example of multinational restructuring in the country.
9. Pick n Pay
South African retailer Pick n Pay also withdrew from its Nigerian joint venture in 2024 by selling its 51 per cent stake.
The move added another major international retailer to the list of companies reducing their direct exposure to the Nigerian market.
10. Uber
The latest major departure is Uber.
The global ride-hailing company ended its Nigerian operations on September 2, 2026, after 12 years in the market.
Uber said it made the decision after reviewing its business operations and did not disclose a specific reason for leaving Nigeria.
However, the company's departure comes against a backdrop of rising fuel costs, inflation, currency volatility and intensifying competition in Nigeria's ride-hailing sector.
Why are multinationals pulling back?
The reasons differ from company to company, but several common pressures stand out.
Foreign-exchange volatility has made imported inputs more expensive and complicated financial planning. The sharp depreciation of the naira has also increased the local cost of dollar-denominated obligations.
Energy costs have risen significantly, while unreliable electricity means many companies must depend on expensive alternative power sources.
Inflation and declining consumer purchasing power have further squeezed margins, particularly in consumer-facing industries.
The National Economic Summit Group has identified currency volatility, rising operating costs and weakened demand among the factors behind the recent wave of multinational divestments and restructuring.
Exit does not always mean goodbye
The corporate departures should therefore be interpreted carefully.
Some companies have completely exited. Others have sold businesses, stopped manufacturing, moved to imports or handed distribution to third parties.
The distinction matters because a multinational can leave Nigeria as a manufacturer or direct operator while its products continue to be sold locally.
Source: Getty Images
Nevertheless, the growing number of restructuring decisions has raised questions about Nigeria's investment climate and its ability to attract and retain capital-intensive businesses.
Uber's departure has now added fresh urgency to that debate, putting renewed attention on whether recent economic reforms can eventually create a more predictable, competitive and investment-friendly business environment.
Uber exit: Bolt, inDrive, local rivals face new battle
Legit.ng earlier reported that Uber’s exit from Nigeria has opened a fresh battle for customers, drivers and market share in one of Africa’s most competitive ride-hailing markets.
The US-based mobility company discontinued its Nigerian operations on September 2, 2026, ending a 12-year presence that began with its launch in Lagos in 2014 before expanding to other Nigerian cities.
Uber said the decision followed a review of its evolving business priorities and investment focus across Africa.
Source: Legit.ng
