Johnson & Johnson to Exit Nigeria Amid Economic Challenges

Johnson & Johnson's Innovative Medicines division is reportedly shutting down its operations in Nigeria due to economic challenges, including inflation and foreign exchange shortages. The multinational giant has already downsized its workforce by 20% in the past year and its Consumer Healthcare division has quietly exited the country in 2022.

This move is expected to impact Nigeria's healthcare sector significantly, especially in areas like oncology, immunology, and mental health. The decision reflects the harsh economic realities faced by multinational firms in Africa's largest economy.