See more as French company announces plan o expand in Nigeria

• French institution Danone has announced plans to grow its operations successful Nigeria and marketplace scope
• The institution says it sees betterment imaginable successful Nigeria contempt caller exits by multinationals similar GSK, Procter & Gamble
• Danone is strengthening its Fan Milk operations, including processing beverage organisation successful bluish Nigeria

Legit.ng writer Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Danone, 1 of the world’s starring nutrient and beverage companies, has announced plans to grow its footprint successful Nigeria.

This defies caller exits by respective multinational firms amid currency challenges and precocious inflation.

French Company expands beingness successful Nigeria Photo credit: yoh4nn
Source: Getty Images

Based successful Paris, Danone sees Nigeria, Africa's astir populous nation, arsenic a strategical maturation marketplace contempt economical headwinds.

Christian Stammkoetter, Danone’s caput of Asia, Middle East, and Africa, expressed assurance successful Nigeria's imaginable during an interrogation astatine the Africa CEO Forum successful Abidjan.

He said:

Danone, renowned for its Fan Milk marque successful Nigeria, precocious bolstered its concern by enhancing beverage organisation capabilities successful the bluish region.

This determination aims to streamline operations and heighten profitability amidst challenging economical conditions, BusinessDay reports.

Stammkoetter stressed Danone’s committedness to innovation and expanding marketplace scope successful Nigeria, underscoring the company’s optimism astir the country's economical betterment trajectory.

Several multinationals person near Nigeria Photo credit: Bloomberg/contributor
Source: Getty Images

Multinationals permission Nigeria

The French multinational’s enlargement plans basal successful crisp opposition to the caller exits of 9 different multinationals, including pharmaceutical elephantine GSK and user goods companies specified arsenic Procter & Gamble and Unilever.

These departures were driven by the devaluation of the Nigerian currency and a volatile concern situation pursuing economical reforms introduced nether President Bola Tinubu.

Despite scaling down operations, these companies person retained section assets, signalling continued involvement successful Nigeria’s marketplace potential.

For instance, Procter & Gamble repurposed its $300 cardinal manufacturing installation successful Ogun State for import operations, reflecting a strategical displacement aimed astatine leveraging section marketplace opportunities.

Similarly, American exertion institution International Business Machines (IBM) precocious announced the extremity of its on-ground operations successful respective African markets, including Nigeria.

The institution stated that it would transportation its determination functions to MIBB, a subsidiary of the Midis Group.

The handover, which took spot connected April 1, 2025, volition spot MIBB presume work for selling and selling IBM’s software, hardware, cloud, and consulting services.

Another illustration is Sanofi-Aventis Nigeria, a starring French pharmaceutical firm, which precocious decided to cease its nonstop operations successful the country.

Starting successful 2024, the institution plans to follow a third-party organisation exemplary for its products successful Nigeria.

According to an interior memo, the planetary pharma elephantine intends to instrumentality a transformative concern exemplary successful the Nigerian market.

Equinor sells its Nigerian operation

Earlier, Legit.ng reported that a Norwegian energy corporation, Equinor, declared that it had sold its Nigerian operations, including its involvement successful the Agbami lipid field, to Chappal Energies, a Nigerian company.

Equinor's three-decade beingness successful Nigeria comes to an extremity with this transaction.

The statement covers the merchantability of Equinor Nigeria Energy Company (ENEC), which owns a 53.85% involvement successful lipid and state lease OML 128—including a unitised 20.21% involvement successful Chevron-operated Agbami lipid field.

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Source: Legit.ng