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Anna Okon
Procter and Gamble said the decision to close its N300m diaper factory in Agbara, Lagos, is strictly commercial, aimed at restructuring and making the company more productive.
Expansion of his diaper line at Agbara in June 2017.
In a statement communicated to our correspondent on Wednesday, P & G stated that it was restructuring its operations in the country.
The statement reads in part as follows: "P & G restructures manufacturing operations in Nigeria to provide a more efficient business operation for the time being and in a sustainable way for the future. production at its Agbara plant.We will strengthen our manufacturing operations in the Ibadan plant, intensify our contract manufacturing operations and continue to invest in our local talent. [19659003] "P & G is one of the world's leading consumer goods, providing world-clbad products in more than 180 countries. . This is purely a business decision for a sustainable and innovative business operation in Nigeria. "
In the statement signed by his director of communications, Lola Adenuga, the company added that P & G is a model investor in Nigeria investing economically and socially.Technology transfer in partnership with local suppliers, agencies, Subcontractors and Government to Achieve Key Inclusive Growth Development Goals
"We have been working with world-clbad standards in Nigeria for over 25 years. We believe in Nigeria's potential and are here to stay in the long term by developing our Nigerian talents, our manufacturing operations in Ibadan's factory, increasing our contract manufacturing operations and continuing to invest in our local talents. Meanwhile, our correspondent found that most manufacturing companies were struggling to stay afloat due to the depreciation of the naira against major currencies.
A director of the Nigeria Manufacturers Association, Mr. Ambrose Oruche, confirmed this to our correspondent. A telephone interview took place on Wednesday.
He said: "This is the consequence of the depreciation of the naira.Most investors met dollars at the N165 exchange rate and they made projections based on this exchange rate; naira is N305 to a dollar.
"Most of them struggle to stay afloat and if they are unable to cope, they have to close."
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