Nigeria’s fragile economy has suffered another setback as global healthcare giant Johnson & Johnson Innovative Medicines (J&J) prepares to wind down operations in the country.
Sources within the Commerce and Industry Correspondents Association of Nigeria (CICAN) confirmed that the company’s decision was driven by Nigeria’s worsening economic climate, marked by soaring inflation, acute foreign exchange shortages, escalating production costs, and inconsistent government policies.
Once a key supplier of critical pharmaceutical and medical products, J&J has gradually scaled back its presence in Nigeria. Its workforce has shrunk to about 20% of its former size, while its Consumer Healthcare arm quietly exited the market in 2022.
“This is not just about one company leaving. When a healthcare leader like Johnson & Johnson cannot survive in Nigeria, it sends a worrying signal to other global investors,” a source familiar with the matter said.
The planned departure is expected to create a significant void in Nigeria’s healthcare supply chain, particularly in specialized areas such as oncology, immunology, and mental health, raising fears over patients’ access to essential medicines.
