Business

Do Not Allow GSK International Cripple Nigeria’s Business, Group Tells Concerned Authorities, FG

Published

3 years ago

May 16, 2023

The Consumer Rights Project has asked the Federal Government of Nigeria to stop GlaxoSmikline – GSK’s insider’s dealings that may endanger the lives of Nigerians and rob Nigerian shareholders of their investments.

The group also called on the current Chairman of GSK – Chief E. Onuzo who is an ex-employee of GSK Nigeria to ensure that local shareholders are properly informed of all plans of GSK especially as it impacts the overall health of the business.

The Consumer Rights Project, a Nigerian Think Tank on consumer rights and local content development has decried attempt by the promoters of GSK International, operating in Nigeria, to cripple its Nigerian Business at the detriment of Nigerian shareholders.

They noted that a seemingly calculated attempt by GSK Nigeria’s leading trading partner – GSK International to shrink its Nigeria business is being carried out.

The group added that this is done through stoppage in supply of its drugs and vaccines to the Nigeria market, adding that this has also endangered the lives of Nigerians who depend on their flagship medicines – Antibiotics, Asthma medication and vaccines.

A statement in Lagos Nigeria by the Project Director of the Consumer Rights Project, Gabriel Ehigiator Esq., indicates that: “The Consumer Rights Project is not unaware of the attempt by some forces within the GSK Group in the UK to create a facade that will force Nigerian shareholders to sell off their shareholdings to them for their selfish aim and profit.

“We wish to remind these persons that the activities of a pharmaceutical company does not just border on business, but life, good health of citizens and overall wellbeing. Some critically ill Nigerians are already dying of avoidable deaths, like the unwarranted death of a female of asthma in a private hospital in the South West, due to the scarcity of GSK’s Asthma drugs.

“We call on the Federal Government of Nigeria, through the Federal Ministry of Health, the Federal Ministry of Trade and Investment, the office of the Secretary to the Government of the Federation, NAFDAC, Consumer Protection Commission and other apposite authorities in this regard, to conduct a corporate governance audit on GSK Nigeria to ensure the protection of the interest of the Nigerian shareholders and the equitable supply of its medicines and vaccines in Nigeria.

“We call on the Federal Government of Nigeria, to enforce the rights of local shareholders as it relates to GSK, and protect them from the annexation of their shares, through unfair and discriminatory policies, that are geared at undermining the economic sovereignty of Nigeria.

“As can be seen from the recently released quarterly business results, GSK has stopped supply of its medicines to Nigeria which led to massive shortages of its critical medicines and vaccines. With this action, it renders the GSK Nigeria business unviable and unable to operate.

“We state that our objective is to protect Nigerian consumers and local xontent, local investments against unfair trade practices and manipulative subterfuge.

“We also believe equitable medicine access should be top priority for a company like GSK and its spin off company Haleon which claims to have the patient at the centre of their operations.

“A Company registered to do business in Nigeria, must conform to Nigerian Laws and must protect the interest of the Nigerian people, which in this case of GSK Nigeria, is above business, but the good health and wellbeing of our people “

“It is important to note that GSK has in the past tried to forcibly take over GSK Nigeria business in 2013 but this action was rejected by the local shareholders. Since then, the company has consistently reduced its investment in the country and sold it manufacturing operations recently without reinvesting the proceed from the sale in Nigeria.

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

20 hours ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.