{"id":9765,"date":"2023-12-07T09:06:14","date_gmt":"2023-12-07T09:06:14","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=9765"},"modified":"2023-12-07T09:06:14","modified_gmt":"2023-12-07T09:06:14","slug":"pg-announces-winding-down-on-ground-presence-in-nigeria","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2023\/12\/07\/pg-announces-winding-down-on-ground-presence-in-nigeria\/","title":{"rendered":"P&#038;G Announces Winding Down On-Ground Presence in Nigeria"},"content":{"rendered":"<div class=\"post-content\">\n<p>P&amp;G, an American multinational consumer goods firm, Procter &amp; Gamble, has announced that it is winding down its on-ground presence in Nigeria.<\/p>\n<p>This was made known by the Chief Financial Officer, Andre Schulten, during his presentation at the Morgan Stanley global consumer &amp; retail conference in New York on Tuesday.<\/p>\n<p>P&amp;G is the manufacturer of common Nigerian household items such as Pampers, Always, Oral B, Ariel, Ambi-pur, SafeGuard, Olay and Gillette.<\/p>\n<p>According to Schulten, P&amp;G will transition into importing its products to Nigeria rather than producing them in the country, adding that it is a result of the country\u2019s challenging business environment as well as the difficulty in creating US dollar value.<\/p>\n<\/div>\n<div class=\"post-content\">\n<p>\u201cThe other reality that arises in some of these markets is that it gets increasingly difficult to operate and create US dollar value.<\/p>\n<p>\u201cSo when you think about places like Nigeria and Argentina, it is difficult for us to operate because of the macroeconomic environment.<\/p>\n<p>\u201cSo with that in mind, we are announcing a restructuring program with the intent to adjust the operating model and adjust the portfolio to ensure that we maintain the portfolio discipline that has brought us to this point.<\/p>\n<p>\u201cThe restructuring program will largely focus on Nigeria and Argentina. We\u2019ve announced that we will turn Nigeria into an import-only market, effectively dissolving our footprint on the ground in Nigeria and reverting to an import-only model,\u201d he said.<\/p>\n<\/div>\n<div class=\"post-meta\">\n<div class=\"share-article justify-content-center \"><\/div>\n<\/div>\n<div class=\"copyright\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>P&amp;G, an American multinational consumer goods firm, Procter &amp; Gamble, has announced that it is winding down its on-ground presence in Nigeria. This was made known by the Chief Financial Officer, Andre Schulten, during his presentation at the Morgan Stanley global consumer &amp; retail conference in New York on Tuesday. P&amp;G is the manufacturer of [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":9766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-9765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/9765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=9765"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/9765\/revisions"}],"predecessor-version":[{"id":9784,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/9765\/revisions\/9784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/9766"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=9765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=9765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=9765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}