Peter
Obi, the Labour Party’s presidential candidate for the 2023 election, expressed
deep
regret over the imminent departure of the renowned British pharmaceutical
giant, GlaxoSmithKline, from Nigeria after a remarkable 51-year presence.
The
multinational company recently made an announcement about its plans to cease
prescription medicine and vaccine production within the country. Instead, they
intend to adopt a third-party direct distribution model for their
pharmaceutical products.
In
response to this disheartening development, Peter Obi took to Twitter on a
Friday night to share his thoughts. He lamented that GlaxoSmithKline’s decision
to leave Nigeria was a clear indication of the country’s struggling business
environment, devoid of productivity prospects. He attributed this unfortunate
situation to the cumulative mismanagement of the economy.
The
consequences of this economic mismanagement, according to Obi, are evident in
the increasing job losses and a worsening poverty index. Nigeria is sadly known
as the world’s poverty capital. He also emphasized that departing multinational
companies, like GlaxoSmithKline, have not only created employment opportunities
but have significantly contributed to the development of the nation’s human capital
through extensive training.
The
pharmaceutical giant’s presence in Agbara, Ogun State, on a vast expanse of 25
hectares of land, directly employed over 400 highly skilled professionals,
including pharmacists, microbiologists, biochemists, chemists, dentists,
doctors, and many others. Additionally, it indirectly provided employment and
business opportunities for thousands of Nigerians across the nation. With
GlaxoSmithKline’s exit, all these opportunities will be lost, pushing more
people into unemployment.
Peter
Obi firmly believes that for Nigeria to thrive, it must shift its economic
focus from consumption to production. Encouraging and supporting both local and
foreign investments, such as GlaxoSmithKline, is crucial for the country’s
growth. Creating an attractive and sustainable environment for multinationals
to invest in Nigeria will be a pivotal aspect of achieving the nation’s dream
of greatness.
GlaxoSmithKline
has been an integral part of Nigeria since its incorporation in June 1971,
commencing business the following year. Its departure marks the end of an era
and raises concerns about the future of foreign investments in the country.
