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General News of Sunday, 10 December 2023


More revelations are coming; don't be deceived - Rufai Oseni reveals reason PZ is leaving Nigeria

Rufai Oseni, Arise TV anchor Rufai Oseni, Arise TV anchor

Arise Television anchor, Rufai Oseni has given reasons behind the pharmaceutical companies and others decision to delist from Nigeria.

In a post shared on his X page on Saturday, December 9, Oseni disclosed that his sources claims the PZ are delisting because of Nigeria's economic crisis.

According to him, PZ invested over $300 million in 2016, and suddenly in 2023 they are leaving. He noted that this is due to challenges and that things are bad.

The award-winning journalist warned that more revelations are coming and people should stop letting themselves be deceived.

"Before PZ made known its position to delist, I already had information from sources, they are delisting due to economic malaise. In 2016, They invested over 300m Dollars in expansion by 2023 they are leaving, which shows they had challenges. If a company that invested 300M and all of a sudden then leaves, you know things are bad. Stop letting people deceive you. More revelations are coming," Rufai Oseni wrote.

Some netizens took to his comment section to share their thoughts.

@Oluchima1: Challenges that had been managed but not anymore. It's glaring that Nigeria is heavily dependent on forex for every pin in the line of production, so they'd rather go else where like P&G, to Ghana or Egypt. Nigerians are being pushed to the wall and soonest, it will be evident

@sinaheart2022: When the head is headless without sense the body will be useless...home based business folding up, but you keep begging the ones outside to come invest, does it make sense? This is heart breaking, the suffering keeps rising.

@JakesOlasupo: He said he would "reduce their purchasing power" and he's doing exactly that!

@EjiroAtenaga: Doing business in Naija is challenging

@seolowu120: Nigeria for show! Bad economy policy disturbing our progress.

@DanielOrlu: @ruffydfire, many companies are folding up, but not just in Nigeria. The world economic downturn is affecting companies all over the world. Most companies couldn't survive after COVID-19. As you said, in 2016, they invested over 300 million dollars, and COVID-19 was in 2019. What do you expect? Companies leaving Nigeria have nothing to do with @officialABAT policies. Big companies don't plan to close up within six months, and they go through different stages before the final close-up. Closing up is a process that takes at least 1year. We need to be circumspective in our analysis. Elections are over,