GSK to Exit Nigeria and Sell Business in 2024 Amid FX Shortages
Nigerians hear that Uber is shutting its Nigeria service after 12 years, with other foreign firms also leaving. GSK, a major pharma producer, says Nigeria’s business environment remains challenging because foreign exchange is hard to access for foreign-currency payments and production costs are high. It plans to sell its business to a local company for 2024 while continuing to sell products via imports.