Peter Obi, the presidential candidate for the Labour Party in the 2023 election, has expressed his dismay over the impending departure of pharmaceutical giant GlaxoSmithKline (GSK) from Nigeria.....KINDLY READ THE FULL STORY HERE▶

The company has been operating in Nigeria for approximately 51 years since its incorporation in June 1971.

GSK recently announced that it will discontinue the production of prescription drugs and vaccines in Nigeria. Instead, it will adopt third-party direct distribution for its pharmaceutical products within the country….CONTINUE READING

Concerned about this decision, Obi took to Twitter on Friday night to address the situation.

He emphasized that GSK’s exit is a consequence of the country’s unfavorable business climate, which has resulted in poor management of the economy.

Obi lamented the negative impact of the company’s departure on the nation’s economy and employment landscape.

In a series of tweets, Obi pointed out, “Millions are losing their jobs, and our poverty index is worsening, even though we’re already regarded as the world’s poverty capital.”

Obi also highlighted the significant role multinational companies like GSK play in human capital development. GSK’s manufacturing facility in Agbara, Ogun State, employed over 400 highly skilled workers, such as pharmacists, microbiologists, biochemists, chemists, dentists, and doctors.

Additionally, it indirectly provided job opportunities for thousands of Nigerians across the nation.

The presidential candidate stressed the importance of shifting Nigeria’s economy from consumption to production and fostering an environment that encourages and supports both local and foreign investments.

He believes that creating a conducive environment for multinationals to invest in the country is vital for Nigeria’s growth and prosperity.