The Labour Party’s presidential candidate for 2023, Peter Obi, expressed concern over GlaxoSmithKline’s (GSK) intention to leave Continue Reading
GSK was incorporated in Nigeria in June 1971 and began operations there in 1972, therefore it has been operating there for almost 51 years.
The company recently announced in a statement that it would stop producing prescription medicines and vaccines in Nigeria. The company also announced that it would start distributing its medicinal goods directly through third parties in the country.
On Friday night, Obi tweeted his alarm about the situation, stating that GSK had gone because it no longer thought the environment was conducive to doing business.
The LP flagbearer further lamented the harm GSK’s leaving would have to the economy of the country and claimed the company’s decision to leave was a result of the nation’s subpar economic management.
Millions of people are losing their jobs as a result, and despite the fact that we are already regarded as the world’s capital of poverty, our poverty index is rising.
“The multinational corporations that are leaving our country have not only created jobs, but also a tremendous amount of training that has greatly aided in the development of our human capital over time,” the speaker concluded.
“One by one, they are now leaving our territory. In addition to employing more than 1000 additional people, GSK, which has a manufacturing facility in Agbara, Ogun State on more than 25 hectares of land, directly hired over 400 highly technical workers, including pharmacists, microbiologists, biochemists, chemists, dentists, and doctors.
“It indirectly opened up business and job prospects for thousands of Nigerians around the nation. More people lose their jobs when they leave all of things behind.
“I have stated time and time again that in order to turn around our nation, we must move away from a consumption-based economy and toward a production-based one, which involves encouraging and supporting both domestic and foreign investments like GSK.
“The creation of a climate that draws and keeps international firms from investing in our country is essential to realizing our dream of grandeur. The new Nigeria we are aiming to create will put a strong emphasis on manufacturing, which will persuade investors to stay and expand here.