By Dipo Olowookere
The management of Procter and Gamble (P&G) has reacted to reports that went viral yesterday that it was planning to shut down its production factory in Agbara, Ogun State.
The plant, which was commissioned in June 2017 by Vice President Yemi Osinbajo, reportedly gulped up to $300 million to complete.
Reacting to the reports through its Public Relations handler, Hill+Knowlton Strategies, P&G said the media reports yesterday quoted incorrect information about its Agbara plant.
The statement, which was made available to Business Post on Thursday afternoon, noted that the firm was only restructuring its operations in Nigeria to deliver more value.
“P&G is restructuring its Nigeria manufacturing operations to deliver a more effective business operation for now and sustainably for the future.
“This will entail an exit from production in its Agbara plant.
“We will strengthen our manufacturing operations in the Ibadan plant, scale up our contract manufacturing operations as well as continue to invest in our local talents,” the statement explained.
Continuing, P&G, a foremost global consumer goods providing world class products sold in over 180 countries worldwide, emphasised that its decision to restructure its operations was mainly “for a sustainable and innovative business operation in Nigeria.”
“P&G is a model investor in Nigeria investing economically and socially and investing in technology transfer in partnership with local suppliers, agencies, contract manufacturers and the Government to deliver key development objectives of inclusive growth.
“We have been operating with world class standards in Nigeria for over 25 years, we believe in Nigeria’s potential and are here to stay for the long haul developing our Nigerian talent, manufacturing operations in the Ibadan plant, scale up our contract manufacturing operations as well as continue to invest in our local talents,” the statement concluded.
Adedapo Adesanya