Governors elected under APGA has transformed Awka the state capital, today Awka is one of the fastest developing cities in the country, Awka became the capital of Anambra state in 1991, current governor of Anambra state Prof Charles Soludo within two years of his administration is relentless in providing more infrastructure, constructing more roads across Awka and dualizing many roads, recently he has awarded the dualization of Awka-Nise-Agulu to Uga road, building Awka Fun city, Shopping Mall, New government house and lodge, soon to flag of 10 storey five star hotel and many others.
flokii: Ogun State has more Oil and even gas deposits than the entire South East region. Let exploration commence fully and you'd marvel.
You think South West isn't blessed with natural resources??
Tongeji island in Ikpokia, Olokola and some other parts have Oil in huge quantities.
Comedian this was how Buhari wasted 8yrs and resources looking for oil in desert, you guys keep making same silly mistakes and using propaganda to cover up
Cromagnon: Local mushroom companies What is their GDP? All of them no reach one international company subsidiary All oil companies just buying and selling producing nothing serious
Truly your ignorant beyond belief
But the GDP of Anambra state is bigger than your state
Pepperdemisback: You are the ignorant one here, go into deep search. Online purchase which became very popular during Covid started bringing them down. There are competitors who make these same Online Purchases back then too. So, they have little or nothing doing in their stores. Go for research and stop watching a dumb video there. A lot of companies abroad have issues and are folding up. Seyi Makinde is bringing Shell project to Oyo State.
Typical of you guys, keep covering you guys incompetence
StOla: What has the shutdown got to do with any section of the country besides the economy of the country as a whole?
Do you have multinationals in the East?
If the economy of Nigeria is not conducive for foreign investors who require stability of currency exchange to make profit from their investments, are they not going to shit down in the places that they run their operation?
How many Nigerian owned manufacturing conglomerate have shut down?
Were you expecting them to shut down where they do not exist?
Many indigenous industries have shutdown
This company is own by Yoruba man I thought you were jubilating over foreign investments
Where is that moniker that always says west is safe for business I'm yet to hear any company shutdown in the east, propaganda always have expiring date
Cc FreeStuffsNG propaganda doesn't run economy
Edited
For those quoting me saying no company in the east, this is one of the industrial layouts in the east, it's called Harbour Industrial Estate located in Ogbaru, Anambra state, watch and cure your ignorance
BREAKING: Huggies maker, Kimberly-Clark to stop production three years after investing $100m in Nigeria
Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.
Sources within the company informed Nairametrics that the plant has been producing below capacity from late 2023 into 2024 due to the harsh economic environment within the country.
In 2022, the company inaugurated a $100 million production facility in Ikorodu, Lagos state to restart operations after a similar closure of operations in 2019 following a strategic review of its business.
Kimberly-Clark began operations in Nigeria in 2012 but stopped due to unfavourable economic conditions after five years in 2019 to later restart in 2021.
The company produces Huggies diapers, sanitary pads, Kotex and other hygiene and personal care products. KC is a listed multinational on the New York Stock Exchange with the majority of its shares held by institutional investors like Blackrock Inc., Vanguard Group, Morgan Stanley etc.
According to the source who claimed anonymity, the company since late 2022 have battled with high energy costs, raw materials and reduced demand from customers due to the prevailing economic situation.
This has resulted in downsizing and reduced production time from every day of the week to just Mondays to Thursdays.
The company currently spends around N100 million on power generation monthly aside from maintenance costs and its monthly fixed spend on operations has risen over N500 million.
Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.
Sources within the company informed Nairametrics that the plant has been producing below capacity from late 2023 into 2024 due to the harsh economic environment within the country.
In 2022, the company inaugurated a $100 million production facility in Ikorodu, Lagos state to restart operations after a similar closure of operations in 2019 following a strategic review of its business.
Kimberly-Clark began operations in Nigeria in 2012 but stopped due to unfavourable economic conditions after five years in 2019 to later restart in 2021.
The company produces Huggies diapers, sanitary pads, Kotex and other hygiene and personal care products. KC is a listed multinational on the New York Stock Exchange with the majority of its shares held by institutional investors like Blackrock Inc., Vanguard Group, Morgan Stanley etc.
According to the source who claimed anonymity, the company since late 2022 have battled with high energy costs, raw materials and reduced demand from customers due to the prevailing economic situation.
This has resulted in downsizing and reduced production time from every day of the week to just Mondays to Thursdays.
The company currently spends around N100 million on power generation monthly aside from maintenance costs and its monthly fixed spend on operations has risen over N500 million.
He said, “Our first two years were fantastic in terms of sales growth and market shares within the diaper industry. Fast forward into late 2022 and 2023 was really bad years for the coy due to economic situation.”
“Running cost is extremely on the high side. Our fixed spent on a monthly basis is above N500 million and we spent about N100 million on just gas consumption for powering the gas engine aside maintenance. The company has two assets and for last year, these assets didn’t run for like 90 days in 365 days.”
“Earlier this year, the coy had to downsize to 2 shifts from 4 shifts. We run 24hrs and 7days and 365 days before but currently we don’t run on Friday, Saturday and Sunday anymore because of the economic situation. There is already an embargo on external recruitment. The company is looking for ways to reduce cost since it is not making a profit.”
Furthermore, the source noted that the high production cost stems from the increased raw material cost since it is import-based.
At the initiation of operations about three years ago, the company set aside some money for operations which it estimated would last five years after which revenue from Nigeria could sustain the operations.
Exit from Nigeria The planned closure of operations of Kimberly-Clark from Nigeria and the reasons provided are similar to those of other manufacturers who have exited the country in the past few years.
High production cost, currency depreciation affecting the import of raw materials, and weak purchasing power of the populace.
Last year, another U.S based company in the personal care business Procter and Gamble (P&G) closed production in Nigeria in a similar fashion having invested about $300 million (the single largest non-oil investment by a U.S company in Nigeria) in a production facility in Ibadan.
Similarly, PZ Cussons stated last month that it is evaluating strategic options for its Africa business for which Nigeria is the biggest and thinking of ways to maximise shareholder value. The company has also restarted asset disposal in Nigeria after a halt due to forex liquidity issues.
The baby diaper industry in Nigeria is estimated at $920 million with a CAGR of about 11% between 2024 and 2028 according to Statista. Leaders in the industry include; Pampers produced by P&G, Molfix, and Kimberly-Clark’s Huggies. However, it is a hugely competitive industry with about 15 brands competing for market share.
What this means The planned closure of production in Kimberly-Clark’s facility in Nigeria is a huge blow to the federal government’s drive to attract foreign direct investment into the country and mirrors the challenges faced by players in the real economy.
Furthermore, the closure of operations means that two of the three leaders in the diaper and personal care industry in Nigeria (P&G and Kimberly-Clark) have ended production in the last one year.
Like GSK, P&G transitioned to an import-based business model, if KC tows the same line, it could exacerbate the cost of diapers and sanitary materials for babies and households following significant depreciation of the Naira and further increase the country’s imports at a time when the drive for local production is high.
InlandTaipan84: Liar, all these pictures are second Niger bridge access roads and interchanges being constructed by the Federal Government of Nigeria. Anambra State have never awarded and constructed any road using Julius Berger as contractor.
He said Julius beger hasn't work in Anambra go and read the post, Anambra state government during Ngige used RCC for many years, you guys are making silly noise on social media for 6.7km road JB is Constructing
mokwechineme: The useless Soludo has been laying these nonsense for the past two years and without any tangible result. That man Soludo is really sick. Anambra has not had it this bad since 2003
Nonybb: That's not the point. Anambra doesn't experienced any tangible transformation either since 1999. I am from Anambra state. All the roads Ngige did is gone. Peter Obi fixed some institutional issues in Anambra states rather than a tangible infrastructural edifice let's be honest, because there were so much rascalities then. But for Obiano, it was a complete failure. The only major road he did that is remaining intact is that road leading to Onitsha from Awka and it was even only one two opposite lane of it. I think it was meant to be 6 lanes. So Anambra state went to square one with Soludo. The only thing that gone me mad is that I never expected this. I never. With his antecedents, I never.
You're f**l you don't know where you from, you said all the roads constructed by Ngige ste gone please mention one
Ezewuzie01: Ekwulobia is not yet a city. It is still a rural commercial centre very much like Nnewi. The only urban areas you can call cities in Anambra are Onitsha and Awka. Though this is very commendable from Soludo. If he can successfully dualize the Awka to Imo state boundary, he would become a legend. I only advise him to stop lying that it will take 12 months to complete the road because that project will last no less than 3 years minimum.
Ezewuzie01: Ekwulobia is not yet a city. It is still a rural commercial centre very much like Nnewi. The only urban areas you can call cities in Anambra are Onitsha and Awka. Though this is very commendable from Soludo. If he can successfully dualize the Awka to Imo state boundary, he would become a legend. I only advise him to stop lying that it will take 12 months to complete the road because that project will last no less than 3 years minimum.
Ezewuzie01: Ekwulobia is not yet a city. It is still a rural commercial centre very much like Nnewi. The only urban areas you can call cities in Anambra are Onitsha and Awka. Though this is very commendable from Soludo. If he can successfully dualize the Awka to Imo state boundary, he would become a legend. I only advise him to stop lying that it will take 12 months to complete the road because that project will last no less than 3 years minimum.
Please mention one rural area that boast of such in Nigeria
Ezewuzie01: Ekwulobia is not yet a city. It is still a rural commercial centre very much like Nnewi. The only urban areas you can call cities in Anambra are Onitsha and Awka. Though this is very commendable from Soludo. If he can successfully dualize the Awka to Imo state boundary, he would become a legend. I only advise him to stop lying that it will take 12 months to complete the road because that project will last no less than 3 years minimum.
Nnewi is not a city really there's no bank in Nigeria that the branch is not in Nnewi, Nnewi host many standard hotels, shopping mall, Nnewi host international markets that feed many markets beyond Nigeria, Nnewi is industrial hub, Nnewi host best hospitals in Nigeria including prestigious Nnamdi Azikiwe University Teaching hospital, Stadium, Museum, Nnewi now host Komworld Cinema and many others and to you Nnewi it's a city yet?
BossGerald: The dualization will pass through Agulu and Nise abi?
Yes they are currently marking properties it will affect from Amawobia they are heading to Agulu while the second contractor started the dualization from Ekwulobia end, the contract was awarded to two construction companies.
Politics › Re: Awka Transforming Under APGA Government(photos) by ANSMEDIA(op): 9:18am On Jun 01, 2024
I'm yet to hear any company shutdown in the east, propaganda always have expiring date 
