Tinubu Has Turned Nigeria Into Business Graveyard — ADC Reacts After Uber Exit

The African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu of creating an increasingly hostile business environment in Nigeria, following Uber’s decision to exit the country.

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The opposition party described the departure of the global ride-hailing company as another indication that businesses are struggling under the economic policies of the Tinubu administration.

ADC National Publicity Secretary, Bolaji Abdullahi, made the position known in a statement issued on Thursday, September 3, 2026.

Abdullahi said Uber’s exit, coming alongside the closure or downsizing of operations by other major companies, had raised fresh questions about the government’s claim that Nigeria’s economy was improving.

According to the party, the continued departure of businesses cannot be separated from rising operating costs, expensive energy, high transportation expenses and the declining purchasing power of Nigerians.

ADC also criticised the Federal Government over its emphasis on a marginal improvement in economic growth, arguing that the figure does not reflect the conditions faced by households and businesses across the country.

“Certainly, a 0.2% growth does not justify the extreme hardship that Nigerians are suffering,” the party said.

It questioned what the reported economic growth had translated into for Nigerians dealing with rising food prices, declining real wages and increasing transportation and energy costs.

The opposition party further argued that the business closures and exits were at odds with claims that Nigeria had entered a period of economic recovery.

ADC cited figures attributed to the Manufacturers Association of Nigeria, which it said showed that 767 manufacturing companies, including 20 major global brands, had shut down or ceased operations in the country.

Among the companies mentioned by the party were Microsoft, Jumia, Bolt Food, Pick n Pay, Shoprite, GlaxoSmithKline, Sanofi-Aventis, Bayer AG, Procter & Gamble, Unilever and PZ Cussons.

The party specifically referenced GSK’s decision to end its manufacturing operations in Nigeria after five decades as an example of the challenges facing multinational businesses operating in the country.

ADC linked the difficulties facing businesses to the sharp increase in fuel and transportation costs following the removal of the petrol subsidy and the naira’s devaluation.

It argued that higher energy and logistics expenses have increased the cost of doing business while simultaneously reducing consumers’ ability to spend.

The party also used the development to promote the economic proposal of its presidential candidate, Atiku Abubakar, particularly his call for a targeted fuel subsidy aimed at reducing production and transportation costs.

ADC said lowering fuel-related expenses would ease pressure on businesses, reduce the cost of living and support job creation.

“Every business that shuts down or pulls out is a vote of no confidence in the Tinubu administration and its capacity to manage the economy,” the party said.

It added that each business closure represented more than a loss of investment, warning that such exits could result in job losses and further worsen poverty.

ADC also challenged the Tinubu administration and the ruling All Progressives Congress (APC) to explain how the reported economic growth had improved the daily lives of Nigerians.

The party said government officials should be able to demonstrate how economic growth had translated into more affordable food, lower household expenses, better wages and sustainable employment.

“Those who had jobs yesterday are not sure how long it will take before their employers close shop,” ADC said, warning that workers were already struggling with the rising cost of commuting to work.

The opposition party concluded that the departure of Uber and other companies should serve as a warning to the Federal Government to reconsider policies that it believes are making Nigeria less attractive to investors.

ADC maintained that reducing production costs and making fuel more affordable would help businesses remain competitive and create conditions for stronger economic growth.