Nigerian lawmakers to investigate exit of multinationals from country
Nigeria, Feb. 20 -- Nigerian lawmakers have resolved to investigate the departure of some multinational companies from the country amid a volatile macroeconomic environment.
The resolution was reached by the House of Representatives following the adoption of a motion moved by Patrick Umoh (APC, Akwa Ibom) and two other legislators during Tuesday's plenary session.
The co-sponsors are Lukman Mudashiru and Paul Ekpo.
Foreign companies, especially manufacturers and energy firms, have been leaving Nigeria with many citing the current foreign exchange crunch and devaluation of the naira, resulting in lower earnings for foreign companies in dollar terms, as reasons.
Moving the motion on the need for intervention to halt the exit, Mr. Umoh l...
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