Is it not interesting? In the 70s, 30 odd years ago, most multinational companies in Nigeria were 60-80% owned by Nigerians, and were run almost 100% by Nigerians? Just research and find out about the banks, FMCGs, manufacturing etcs. BP was nationalized to AP, Shell Oil to National Oil, and so on. Now, three decades later, the few multinationals that have not packed up and out of Nigeria are in some cases 90% owned and managed by foreigners, resulting in an extremely high capital flight situation, and also high cost of maintenance of expatriate staff. This isn't funny, considering that there are millions of jobless Nigerians out there. This has actually created an extreme dependence of the economy on the forex coming in from these foreign-owned multinationals, which is why CBN is not finding the current dollar scarcity funny.
What's the take of the house on this development?