Brand Exits In Nigeria (June 2024 – April 2025)

Brand Exits In Nigeria (June 2024 – April 2025)

1. Kimberly-Clark: Exited Nigeria in June 2024 due to persistent losses and high borrowing costs
2. Pick n Pay: The South African grocery retailer exited Nigeria by selling its 51% stake in a joint venture with A.G Leventis
3. Diageo: Sold its stake in Guinness Nigeria to Tolaram Group, marking its withdrawal from direct operations in June 2024
4. Holcim AG divested its 83.81% stake in Lafarge Africa Plc, selling to China’s Huaxin Cement Co. in a $1 billion deal.
5. Shoprite, while not completely exiting the country, significantly scaled back its Nigerian operations by closing its Abuja store in June 2024, following an earlier closure of its Kano location in January of the same year
6. Jumia Food, the food delivery service of Jumia, exited Nigeria and other African markets due to profitability concerns
7. IBM ended its operations in Nigeria and other African markets, transferring its regional functions to MIBB, a subsidiary of Midis Group, effective April 1, 2025, marking the end of IBM’s over 50-year presence in Nigeria