Nigeria’s creaking economy has slid into recession twice in the last six years caused by the decline in global oil prices in 2016 and the COVID-19 pandemic in 2020. “When Suntory acquired the brands, their strategy expectation was that they could drive the business turnover and change the fortunes of products by making them more available and profitable but they have not been able to achieve that strategy, forcing them to leave,” said Abiola Gbemisola, an analyst at FBNQuest. The transaction, which is worth about $14 million, is expected to be completed in the second quarter of this year. Also Read News Ten million Nigerian girls are out of school & More Trending News Today
