The American multinational company Kimberly-Clark, the creator of “Huggies,” has declared that it will no longer be producing and selling its products locally in Nigeria.
After 14 years in the nation, this is the last day of its presence.
This decision was made public by the company in a statement that was issued on Friday.
It ascribed the action to Nigeria’s current economic circumstances as well as its recently modified global strategic priorities.
“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,” the statement read.
The business announced that it would close its Lagos office and manufacturing plant and stop producing, promoting, and selling Huggies and Kotex products in Nigeria.
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The business gave everyone the assurance that keeping its word and making sure partners and staff are treated fairly and respectfully throughout the transition are its top priorities.
Kimberly-Clark had made large investments in Nigeria, opening a factory in 2022 that was projected to cost more than $100 million in the Ikorodu neighborhood of Lagos.
The company’s existence is in line with a current trend of international companies pulling out of the Nigerian market.
GlaxoSmithKline Consumer Nigeria Plc declared in August 2023 that it would be handing over its business operations to an outside entity.
Similar to this, Sanofi-Aventis Nigeria Limited, a French pharmaceutical company, stopped operating directly in the nation in November 2023.
Procter and Gamble also disclosed intentions to switch from domestic production to importation by December 2023.
The withdrawal of these multinational corporations indicates a difficult business climate in Nigeria, which has caused multinational corporations to reevaluate their market strategies.
