Clover will no longer invest in Nigeria

Clover Industries will no longer invest in Nigeria due to a financial crisis caused by a sharp fall in oil prices, the dairy products company said on Wednesday.

"The current financial crisis experienced in Nigeria which is fuelled by the low oil price is a further cause of concern, thus the group has decided to withdraw from future investments in Nigeria," Clover said in a statement.

The company said it would continue to expand operations in Botswana, Namibia, Lesotho and Swaziland.

- Reuters