Former Vice-President Atiku Abubakar has lamented the exit of GlaxoSmithKline Plc from Nigeria.
Gatekeepers News reports that the presidential candidate of the Peoples Democratic Party (PDP) in the last election has said the exit of is an indication of the “horrific” environment for businesses in the country.
Products of GSK include Augmentin, Neosporin, Panadol, Sensodyne, Advair, Ventolin, and Theraflu, among others.
On Thursday, GSK Nigeria announced it plans to cease operations after evaluating the options for moving to a third-party distribution model for its pharmaceutical products.
In reaction to this, Atiku via his Twitter page on Saturday, said Nigeria needs to do more to encourage investors to do business in the country.
Atiku said, “The planned exit of GlaxoSmithKline (GSK) from Nigeria after more than five decades of doing business in Nigeria underscores how horrific the environment has become for both local and foreign businesses.
“Sadly, many international firms have, in recent times, sold their assets and bid farewell to Nigeria after several years of operating in our country.
“These exits have led to further loss of jobs in an environment that is already bleeding jobs.
“We need to do a lot more not only to encourage investors to make Nigeria their preferred destination but also to encourage companies already operating in our land not to ‘japa’.
“To this end, we must revamp our infrastructure, endeavour to enthrone a sustainable regime of energy security and retool our fiscal and monetary policy.”
Gatekeepers News reports that presidential candidate of the Labour Party (LP), Peter Obi described GSK’s planned exit as “disheartening”.
Obi said, “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.
“The creation of 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.
“Our people will keep their jobs and grow their prosperity.”
