Kimberly-Clark, the maker of Huggies brand of baby diapers and products has become the latest multinational to exit the Nigerian market over the current situation in the country.
The company has been in Nigeria for about 15 years.
The American multinational corporation announced the decision to stop production in the country in a statement on Friday.
The company noted that the decision followed its recently refocused corporate priorities globally as well as economic trends 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,” the company said.
“Kimberly-Clark will close its manufacturing facility and commercial office in Lagos and will no longer manufacture, market, or sell its Huggies and Kotex products in the country.”
The company said its top priority will be to fulfil its obligations and ensure that employees and partners “are treated with fairness and respect”.
In 2022, Kimberly-Clark opened its factory estimated at over $100 million in the Ikorodu area of Lagos.
The pullout of the international company is the latest in the series of recent high-profiled exits of multinationals from the country.
In August 2023, GlaxoSmithKline (GSK) Consumer Nigeria Plc announced plans to cease operations, transferring its business activities to a third-party organisation.
Sanofi-Aventis Nigeria Limited, a French pharmaceutical company, in November 2023, also halted its direct operations in the country.
In December 2023, Procter & Gamble (P&G), an American multinational consumer goods company, said it has plans to transition from local production to solely importing its products.
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