Nigeria’s business and healthcare sectors have been hit with another blow as global healthcare leader Johnson & Johnson Innovative Medicines (J&J) prepares to exit the country. The move highlights the growing difficulties multinational firms face in Africa’s largest economy.
Sources within the Commerce and Industry Correspondents Association of Nigeria (CICAN) confirmed that the exit is driven by the country’s worsening economic climate—marked by skyrocketing inflation, foreign exchange shortages, high production costs, and unpredictable government policies.
One insider disclosed that J&J had already downsized operations in the past year, trimming staff strength to barely 20%. This follows the quiet exit of its Consumer Healthcare division in 2022. “This is not just about a company leaving. If Johnson & Johnson cannot survive in Nigeria, it sends a worrying signal to global investors across sectors,” the source explained.
Healthcare Impact
Johnson & Johnson’s departure is expected to create a significant gap in Nigeria’s healthcare supply chain, especially in critical areas like oncology, immunology, and mental health.
Dr. Bisi Adeyemi, a Lagos-based oncologist, warned:
“Patients with cancer and autoimmune diseases already struggle with access to innovative therapies. The exit of Johnson & Johnson could mean fewer treatment options and higher costs for families.”
Civil society groups have also raised alarms. According to Health Rights Watch Nigeria, the move risks worsening health inequalities in a country where out-of-pocket spending already accounts for over 70% of total healthcare expenditure.
Investment Confidence Shaken
Economists say the decision could dent investor confidence further.
Financial analyst Chuka Nwokedi told CICAN:
“This exit is not an isolated case. It reflects a broader problem, companies cannot plan in an economy where currency volatility, inflation, and policy inconsistencies remain the norm. Unless urgent reforms are made, more multinationals will follow.”
Adding his perspective, Dr. Ngozi Eze, an economist at one of the Nigeria University, said:
“The Nigerian government must realize that each corporate exit is not just about job losses. It is about global perception. Every time a company like J&J leaves, it signals to others that the Nigerian market is not viable.”
The Bigger Picture
Johnson & Johnson’s departure adds to a growing list of multinationals scaling down or shutting operations in Nigeria. Analysts warn that unless policies are stabilized and incentives improved, the exodus of global brands could become a defining feature of the economy.
As health experts brace for shortages in vital medicines, investors are once again reminded that Nigeria’s policy and economic environment remain a critical barrier to sustainable business operations.
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