Atiku Abubakar Expresses Concern Over GlaxoSmithKline’s Exit from Nigeria after 51 Years

Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, has voiced his worry over the news of pharmaceutical giant GlaxoSmithKline (GSK) planning to exit Nigeria.

FRSEHREPORTERS MEDIA reports that GSK has been incorporated in Nigeria since June 1971 and has operated in the country for approximately 51 years.

In a statement released to the Nigerian Stock Exchange on Thursday by Frederick Ichekwai, the company’s Secretary, GSK revealed its intention to shut down operations in Nigeria. The company stated that it would no longer produce prescription drugs and vaccines within the country, opting for third-party direct distribution for its pharmaceutical products instead.

Reacting to this development, Atiku expressed his concern via his verified Twitter handle. He emphasized that the planned exit of GSK from Nigeria highlights the challenging business environment in the country. He lamented that such actions by international firms leaving Nigeria would worsen the already high unemployment rate.

Atiku stressed the importance of the government taking more proactive measures to encourage foreign investors and boost the country’s infrastructure. He urged for improved fiscal and monetary policies to create a more favorable business environment and prevent further exits of companies operating in Nigeria.

In summary, Atiku Abubakar raised his concerns over GlaxoSmithKline’s decision to exit Nigeria after more than five decades of operation. He called for urgent measures to attract foreign investors, enhance the country’s infrastructure, and implement better fiscal and monetary policies to support businesses in Nigeria…[CONTINUE READING HERE]