Obi saddened by GSK's Exit from Nigeria, decries job loss as a result


Presidential candidate of the Labour Party in the February 25, presidential election, Peter Obi has described as saddening the exit of the Pharmaceutical giant, GlaxoSmithKline (GSK), from Nigeria after 51 years of operations.

Obi in a series of tweets, Saturday morning, August 5, 2023, said that their reason for leaving portends a gloomy future for the country's investment climate.

"Today, I was saddened to hear that GlaxoSmithKline (GSK), is exiting Nigeria after 51 years of operations. 

"Their reason for leaving Nigeria is even more disheartening, that they are no longer perceiving any future growth of the country, which will be anchored on productivity.

The former Anambra state governor, noted painfully that we're at the point in our nation's journey where multinationals are leaving the country and the local ones are closing down all consequences of poor management of our economy, as a result, millions are losing their jobs and our poverty index is worsening despite our already being the world poverty capital.

"These multinationals leaving our country, not only create jobs but create immeasurable training that contributes immensely to our human capital development.

"GSK which has a manufacturing facility set up in Agbara, on over 25 hectares of land in Agbara, 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. They are now leaving all these behind, and pushing more people back into unemployment.”

The LP standard bearer recalled his consistent position 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 finally stressed that importance of creating an environment that creates and sustains multinationals to invest in our country is key to our dream of greatness. In the new Nigeria that we seek to create, the emphasis on production will encourage investors to stay and expand on our shores. 
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