FACT-CHECK: Claim That Major Companies Exit Nigeria Because of Government Policies is Misleading

BY: Abdullateef Sebiotimo

Claim:
After Tinubu assumed power in 2023, several companies including GSK, Sanofi, P&G, Kimberly-Clark, Shell have ended operations and left Nigeria due to harsh government policies affecting investors.

Verdict:
Misleading.

Full-Text:
On 7 October 2026, X user @Bedezeugo posted, saying, “After Tinubu assumed power in 2023, GSK, Sanofi, P&G, & even Unilever ended operations & left Nigeria. In 2024, Kimberly Clerk joined them, and in 2025, Shell followed, by selling its offshore subsidiary. Harsh policies discourage investors. This is unacceptable.” Within hours the post recorded 70  likes, 50 reposts, 12 replies and more than 660 views. 

Earlier versions of the same post have gained more traction. A September post by @RealQueenBee__ listed ten companies, including GSK, P&G, Sanofi, Kimberly-Clark and Uber, attracted 255 likes, 203 reposts,  and over 11.4K views.

In the comment sections the claim is treated by many as a settled fact. Under the Queen Bee post, user @AlexXkachy emphasising that the list is for large-scale businesses only and does not even contain small scale-businesses whose folding up might have gone undocumented said, “This is apart from Small scale business” . 

Another user, @hillbrain1313 replied, “And the eeediot is giving us statistics of external foreign reserves” . The discussion frequently turns partisan, with critics presenting the exits as direct proof that Tinubu’s policies have driven investors away and supporters dismissing the posts as exaggerated.

The claim has gained traction because several well-known multinationals did reduce their direct presence in Nigeria after May 2023. However, the language of total “exit” and exclusive blame on “harsh policies” requires closer examination against company statements and contemporaneous reporting.

Verification:
GSK (GlaxoSmithKline)
In August 2023 GSK Consumer Nigeria announced it would cease direct operations and move to a third-party distribution model for its prescription medicines, vaccines and consumer-healthcare products. The company cited declining sales, competition from local and Asian manufacturers, and difficulty securing foreign exchange. Products remain available in Nigeria through distributors. The local listed entity was later delisted. 

Sanofi
In November 2023 Sanofi announced that from February 2024 commercialisation of its medicines would be handled solely by a third-party distributor (later confirmed as CFAO Healthcare). Direct operations ended with the company pointing to the need for a more sustainable model amid foreign-exchange pressures. Its products continue to reach Nigerian patients. 

Procter & Gamble (P&G)
In December 2023 P&G announced it would end local manufacturing and convert Nigeria into an “import-only” market, dissolving its on-ground manufacturing footprint. CFO Andre Schulten linked the decision to the difficulty of operating as a dollar-denominated business in Nigeria’s macroeconomic environment. Brands such as Pampers, Always and Ariel remain available through imports. 

Unilever
Unilever did not fully exit Nigeria. In March 2023 the company announced a portfolio review and later stopped production and sales of its home-care and skin-cleansing brands such as Omo, Sunlight, Lux and related products. The factory was leased to a third party. However, Unilever remains active in foods, beauty and personal care and has publicly reaffirmed its long-term commitment to Nigeria. 

Kimberly-Clark
In May 2024 the maker of Huggies announced it would close its manufacturing facility and commercial office in Lagos and stop manufacturing, marketing and selling its products in Nigeria. The company cited both global strategic priorities and “economic developments in the country.”

Shell
Shell did not sell an “offshore subsidiary” and leave Nigeria. Between 2024 and 2025 it completed the sale of its onshore and shallow-water subsidiary (SPDC) to the Renaissance consortium. At the same time it retained and expanded its deep-water and LNG interests, including a final investment decision on Bonga North and an increased stake in the Bonga field. Shell remains a significant player in Nigerian offshore oil and gas. (Shell Global: 

Across these cases the dominant reasons given by the companies were chronic foreign-exchange scarcity; a problem that predated May 2023, sharp naira depreciation after the 2023 float, elevated energy and operating costs, and weaker consumer purchasing power. Some decisions had roots in earlier strategic reviews. While the post-2023 policy environment intensified the pressures, the claim that the firms simply “left Nigeria” because of Tinubu’s policies oversimplifies the record.

Conclusion:
Several multinational companies did restructure, stop local manufacturing or reduce their direct operational footprint in Nigeria between 2023 and 2025. The claim correctly identifies that trend but  the collapsing of different corporate decisions into a single story of total exit and attribution of the moves exclusively to the current administration’s policies is misleading.