Peter Obi (file photo)
We have painfully come to that point in our nation’s journey where multinationals are leaving the country and the local ones are closing down
By Valentine Amanze
The Labour Party (LP) presidential candidate in February 25, 2023 general election, Mr. Peter Obi, has expressed sadness over the exit of the international pharmaceutical company, GlaxoSmithKline (GSK), from Nigeria over unfriendly business environment.
Obi tweeted (@PeterObi) on August 4, 2023 that the exit of the company after 51 years operation in Nigeria was a bad omen.
He lamented that reason for leaving Nigeria was even more disheartening, stressing that the manufacturing firm no longer perceives a prospect for the country as a business environment that would be anchored on productivity.
His words: “We have painfully come to that point in our nation’s journey where multinationals are leaving the country and the local ones are closing down.
“These are some of the consequences of the cumulative poor management of our economy.
“As a result, millions are losing their jobs and our poverty index is worsening, even though we’re already being perceived as the world’s poverty capital.”
He pointed out that the multinationals that were leaving Nigeria had not only provided jobs but created immeasurable training that
contributed immensely to human capital development over the years.
“Now they are leaving our shores one after the other. GSK which has a manufacturing facility in Agbara, Ogun State on over 25 hectares of land had directly employed over 400 highly technical workers like
pharmacists, microbiologists, biochemists, chemists, dentists, doctors etc, and also employed over 1000 other staff.
“It indirectly provided jobs and business opportunities for thousands of Nigerians across the nation,” Obi said.
He further lamented that the companies were now leaving all their investments behind, while pushing more people
back into unemployment.
“I have consistently maintained that in turning our nation around, we must move the economy from consumption to production, part of which included encouraging and supporting local and foreign investments, like GSK, in the country,” Obi said.
Recall that GSK announced its exit from Nigeria, recently.