• About Us
  • Contact Us
  • Privacy & Policy
Sunday, June 29, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Multinationals Exit Nigeria: Diageo Joins Unilever, Others

Vincent Amadi by Vincent Amadi
June 12, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
Multinationals Exit Nigeria: Diageo Joins Unilever, Others
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram

Diageo, the beverage company for Guinness Nigeria, has left Nigeria, joining a growing list of multinational organizations that have recently left the country.A filing sent to the Nigerian Exchange Limited (NGX) on Tuesday by Guinness Nigeria, expressed that Tolaram has agreed to obtain Diageo’s 58.2 percent shareholding in Guinness Nigeria Plc and is additionally anticipated to enter into a long-term permit and royalty agreement for the proceeded production of the Guinness brand and its locally manufactured Diageo ready-to-drink and standard spirits brands.

The transaction is anticipated to be completed amid Fiscal 2025, subject to obtaining the essential regulatory approvals in Nigeria.On completion of this transaction, Guinness Nigeria will remain listed on the floor of the NGX, and subject to regulatory approvals, Tolaram will launch a mandatory takeover offer in compliance with local law necessities. This improvement underscores the progressively challenging business environment in Nigeria, characterized by economic instability, regulatory hurdles, and security concerns.

Diageo’s flight follows similar moves by other significant players in different businesses, indicating broader issues that are making Nigeria less attractive to universal businesses. Industry giants like Procter and Gamble, GlaxoSmithKline, Kimberly-Clark, Pernod Ricard, and Unilever, have already expressed their exits, due to “unfavorable conditions”. For example, Kimberly-Clark, producer of Huggies diapers and Kotex feminine care products expressed that it’ll be closing its facility due to declining production and difficult economic conditions while Proctor and Gamble clarified that its choice to exit was also due to a challenging business environment as well as the difficultly in making US dollar value.

Tags: businessnigeria
Vincent Amadi

Vincent Amadi

Related Posts

US based Nigerian CEO arrested in US for fraud and  money laundering
News

US based Nigerian CEO arrested in US for fraud and money laundering

2 days ago
Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 days ago
Peter Obi Slams Tinubu Over Deepening Lawlessness, Cites Demolition of Brother’s Property in Lagos
News

Lagos State Government Denies Demolishing Property Allegedly owned to Peter Obi’s Brother, Orders Investigation

3 days ago
Gospel Artist sentenced to Death for beheading NYSC Girlfriend
News

Gospel Artist sentenced to Death for beheading NYSC Girlfriend

3 days ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Comrade Babangida Declares for NYCN Presidency, Promises Sweeping Reforms and Youth Reawakening
National

Comrade Babangida Declares for NYCN Presidency, Promises Sweeping Reforms and Youth Reawakening

1 day ago
Fubara, Wike, and Amaewhule in first public outing since presidential peace meeting
National

Fubara, Wike, and Amaewhule in first public outing since presidential peace meeting

1 day ago
Prominent Kano businessman, grandfather to Dangote, Alhaji Aminu Dantata passes on at 94
National

Prominent Kano businessman, grandfather to Dangote, Alhaji Aminu Dantata passes on at 94

1 day ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

2 days ago
Breaking News: APC National Chairman Ganduje Resigns
National

Breaking News: APC National Chairman Ganduje Resigns

2 days ago
Tinubu Probes Wike for alleged allocation of 2,082 Hectares of Abuja Land to Son
National

Tinubu Probes Wike for alleged allocation of 2,082 Hectares of Abuja Land to Son

2 days ago

POLITICS

David Mark emerges coalition’s ADC interim national chairman

David Mark emerges coalition’s ADC interim national chairman

7 hours ago
Peter Obi urges Northern leaders to invest in education to tackle poverty

2027 elections: Coalition to reveal adopted party this week

7 hours ago
PDP Crisis Deepens as NWC Members Reject Anyanwu

PDP Crisis Deepens as NWC Members Reject Anyanwu

4 days ago
President Tinubu should Declare State of Emergency in Benue – Security expert Babaeko

2027 ELECTIONS: Tinubu Dismisses 2027 Coalition, Calls Opponents Political IDPs

4 days ago
INEC Receives 110 Applications from Associations Seeking Registration as Political Parties Ahead of 2027 Elections(see list)

INEC Receives 110 Applications from Associations Seeking Registration as Political Parties Ahead of 2027 Elections(see list)

4 days ago
PDP Crisis: PDP Confirms Samuel Anyanwu as National Secretary

PDP Crisis: PDP Confirms Samuel Anyanwu as National Secretary

4 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 days ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

1 week ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

2 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

2 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

2 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

3 weeks ago

E & P

PSG’s Luis Enrique reveals strategy to stop Messi and Inter Miami
Sports

PSG’s Luis Enrique reveals strategy to stop Messi and Inter Miami

by Steven Atogi
6 hours ago
0

Paris Saint Germain (PSG) is playing Inter Miami tonight in the Club World Cup. Luis Enrique, has experienced having coached...

Breaking: Jhon Durán set to joins Fenerbahçe, leaving less than 7 months after joining Al Nassr

Breaking: Jhon Durán set to joins Fenerbahçe, leaving less than 7 months after joining Al Nassr

1 day ago
Brighton FC signs Super Falcons goalkeeper Chiamaka Nnadozie

Brighton FC signs Super Falcons goalkeeper Chiamaka Nnadozie

1 day ago
Breaking: NAPTIP declares Speed Darlington wanted

Breaking: NAPTIP declares Speed Darlington wanted

2 days ago
Cristiano Ronaldo Extends Al Nassr Contract, Commits to Saudi Pro League Project Until 2027

Cristiano Ronaldo Extends Al Nassr Contract, Commits to Saudi Pro League Project Until 2027

3 days ago
MultiChoice Slashes DStv Decoder Price by 50%

MultiChoice Slashes DStv Decoder Price by 50%

4 days ago

YOUR THOUGHT & HISTORY

Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 days ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
4 days ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
4 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

PSG’s Luis Enrique reveals strategy to stop Messi and Inter Miami

PSG’s Luis Enrique reveals strategy to stop Messi and Inter Miami

June 29, 2025
David Mark emerges coalition’s ADC interim national chairman

David Mark emerges coalition’s ADC interim national chairman

June 29, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address