The Impact of GlaxoSmithKline’s Exit from Nigeria: Peter Obi’s Response

” I was saddened to hear that GlaxoSmithKline is exiting Nigeria”- Peter Obi
The Impact of GlaxoSmithKlines Exit from Nigeria Peter Obis Response

Presidential candidate Peter Obi has expressed his sadness over GlaxoSmithKline’s decision to terminate its business operations in Nigeria after 51 years. The multinational company cited a lack of prospects and productivity in the country as the reason for its departure. Obi highlighted the consequences of the poor management of Nigeria’s economy, including job losses and an increasing poverty index. He emphasized the importance of creating an environment that attracts and sustains multinational investments to drive the country’s economic growth. A parody account of President Bola Tinubu also criticized the government’s handling of the situation, calling for change. GlaxoSmithKline is a British pharmaceutical and biotechnology company.
 

Labour Party’s presidential candidate in the 2023 general elections, Peter Obi, has responded to GlaxoSmithKline’s abrupt termination of its business operations in Nigeria. Obi shared his thoughts on Twitter, expressing his disappointment about the multinational company no longer seeing the country as a productive business environment. GlaxoSmithKline reported a significant drop in half-year sales compared to the previous year. Obi, who is still awaiting judgment on his petition against President Tinubu’s victory, lamented the departure of multinational companies and the closure of local businesses, citing them as consequences of poor economic management in Nigeria.

Obi extended his sympathy to those who might lose their jobs due to GlaxoSmithKline’s exit. He highlighted the company’s contributions to job creation, training, and human capital development in Nigeria. The LP candidate emphasized the need to shift Nigeria’s economy from consumption to production, promoting and supporting local and foreign investments to encourage investors to stay and contribute to the nation’s progress.

A parody Twitter account attributed to President Bola Tinubu also commented on the situation, expressing the urgency of rescuing the country from unfavorable leadership and emphasizing the importance of leaders who prioritize the nation’s welfare over personal gain.

GlaxoSmithKline, a British multinational pharmaceutical and biotechnology company, had been operating in Nigeria for over 20 years, manufacturing products for various diseases.

 

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