Tuesday, February 27, 2024
HomeAFRICAAtiku is concerned about GlaxoSmithKline's departure, as Nigeria's business climate is abysmal.

Atiku is concerned about GlaxoSmithKline’s departure, as Nigeria’s business climate is abysmal.

Atiku Abubakar, the Peoples Democratic Party’s (PDP) presidential candidate, has expressed concern over GlaxoSmithKline’s intended departure from Nigeria.

Saturday, Atiku posted a message to his verified Twitter account.

According to him, the company’s performance demonstrated how terrible the country has become for business.

Read also: Coup: War in Niger is not an option – MURIC warns Buhari

DAILY POST recalls that GlaxoSmithKline disclosed its intention to cease operations in Nigeria in a statement issued to the Nigerian Stock Exchange on Thursday by its Secretary, Frederick Ichekwai.

As a response, Atiku expressed regret that many multinational corporations are leaving Nigeria due to its difficult economic climate.

He lamented that the situation would exacerbate Nigeria’s unemployment rate.

Former Vice President Joe Biden advised that the government must do more to attract foreign investors.

He added that the nation’s infrastructure, fiscal and monetary measures must be updated.

“The intended departure of GlaxoSmithKline (GSK) from Nigeria after more than five decades of doing business in Nigeria demonstrates how dreadful the business climate has become for both foreign and domestic companies.

“Regrettably, many international companies have recently sold their assets and left Nigeria after several years of operation here.

“These departures have resulted in additional job losses in an environment that is already bleeding jobs.” We must do a great deal more not only to persuade investors to make Nigeria their preferred destination, but also to persuade companies that are already operating in our country not to ‘japa.’

“To this end, we must modernize our infrastructure, work to establish a sustainable energy security regime, and retool our fiscal and monetary policy,” he wrote.

Source

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments