Nigeria looks unsafe for foreign investors – Nigerians react as Microsoft considers leaving

The Nigerian tech industry has suffered a blow as Microsoft considers shutting down its African Development Centre in Lagos.

The news of the tech giant potential departure from Nigeria has sparked concerns about job opportunities and the significant impact on the country’s technological landscape.

According to a source who spoke to The Guardian newspaper on Tuesday, May 7, 2024, Microsoft informed its staff on Monday about the plans to close the centre.

Affected employees will receive salary payments until June and will maintain health insurance coverage.

Speculation suggests that the country’s challenging economic conditions contributed to the tech company’s decision to leave.

The closure will only affect the ADC’s West Africa operations in Nigeria, not its East Africa facility in Nairobi, Kenya.

In 2019, Microsoft launched its $100 million African Development Centers initiative, establishing facilities in Lagos and Nairobi.

Initially employing over120 engineers in 2022, the staff has since grown to more than 200 members in total.

The Lagos Centre aimed to provide engineers with opportunities for engineers to develop innovative technology solutions to address challenges within and beyond Africa.

Since the news broke, Nigerians on social media have been reacting to the development.

@AdemoyeJohn: Other companies are shutting down operations and living the country. Elections have consequences and this is what's unfolding in front your eyes.

@NelsonClin22787: A lot is happening under the Tinubu administration

@Game_Boss360: Foreign companies are leaving Nigeria because of tax and bad economy

@Onyeani_Kalu: All Corrupt Companies in Nigeria will surely close up as #RenewedHope government is clearing up all corrupt loopholes in the system . Only companies that wish us well will survive and remain, the future is Nigeria 🇳🇬 do not panick.

@pardox121: As I said the West won't build Africa. Stop relying on them. Push yourself and your leadership to make a change. Only Africans can build Africa.

@RealQueenBee__: So Tinubu has succeeded in chasing Microsoft Nigeria away or is it that Microsoft cannot compete?

By the time he's done with Nigeria, it's only Alpha Beta that will be remaining.

@Trustissue_t: All these calamities under someone 1 year presidential tenure

@Bidal4Life: P&G left
Microsoft left
All within one year
Thank you To Tinubu for taking us to this greater height