Indications emerged on Thursday that the number of job loss in Nigeria in 2019 may raise by over 14,000. This is because owners of the popular Oriental Hotel in Lagos, Western Metal Products Company Limited (WEMPCO) Group, are planning to leave the country after over four decades doing business in the Africa’s largest economy. Few days ago, there were reports that WEMPCO was offering to sell its flagship hospitality business, Oriental Hotel for $250 million (about N90 billion). According to a report by Business Day, WEMPCO wants to sell the company because of some issues, including unfavourable business environment, corporate governance, debts and others. It was reported that the group has fallen on hard times and is considering an exit from Nigeria along with its steel plant, which has 700,000 tonnes-capacity and employs about 14,000 people, mostly Nigerians. “When deep, long-term guys like these are exiting, then it is a very worrying sign. People like these are not supposed to exit,” an economic analyst, who asked not to be quoted, said. Founded by Lewis Tung and his brother Robert Tung, WEMPCO Group has been in Nigeria for over 40 years with established manufacturing compan...