This is not the best for of time for multinational companies in Nigeria as more and more of such companies have continued to exit the country.…Click Here To Continue Reading>>

It was gathered that Aarti Steel Nigeria has reportedly shut down operations in the country, citing economic pressure as the reason for its decision.

Findings showed that the $30m Indian company which produces roofing sheets has been in business in Nigeria for than a decade, establishing itself as a reliable business partner for numerous customers in the country and even beyond.

Aarti which has been into roofing sheet production for many years with considerable market foot prints may finally be saying good bye to Nigeria, according to reliable source.…Click Here To Continue Reading>>

The Ota Ogun state-based Steel plant has allegedly not been operating smoothly for almost a year with intermittent production which made it impossible for the company to meet the funding requirements for the continuation of its operations.

A source hinted that the impact of severe indebtedness due to forex exchange losses, adverse economic policies and other factors which depressed the local pricing mechanisms forced the company to sell at a price lesser than its cost of production…ContinueReading….