About 20 firms from Germany have shown interest in setting up operations in Nigeria The companies said they will invest in resources and technical support to enhance export commodities They stated that they came to Nigeria to explore investment opportunities in Africa's largest economy

Months after popular drugs and healthcare manufacturing giant GSK left Nigeria, about 20 German firms are ready to open shops in the country. The companies expressed interest in investing resources and technical knowledge to enhance local production and improve Nigeria's export commodities. President Bola Tinubu and German Vice Chancelor, Olaf Scholz

The development follows a discussion between officials of the Nigeria Investment Promotion Commission and a private sector group comprising 22 firms from Germany and Europe on an experimental mission to analyze the potential investment opportunities in Nigeria.

The delegation's leader and Deputy Head of the United Nations Investment and Technology Promotion Office, Michael Schmidt, said the meeting boosted bilateral ties with Nigeria and implemented agreements reached during an earlier visit to the country by German Chancellor Olaf Scholz.

According to Schmidt, the companies would invest in tech support in local processing and transfer of green and sustainable technologies. Punch reported that Schmidt pointed out that the companies want to boost the industries' capacity in Nigeria, stating that they toured Lagos, Ibadan, and Abeokuta and rounded off in Abuja. Per Schmidt, the meeting was critical because it brought together Nigeria's government, decision-makers, private sector, and UNIDO partners.

He revealed that 20 firms are part of the delegation and are in touch with more companies to assist various sectors in Nigeria.

He said: "There is also indirect support to achieve industrialization by supporting local companies, improving their efficiency, access to international market and standards.

GSK and other companies' exit from Nigeria upsets jobs Nigeria has suffered what many describe as a mass exodus of multinational firms from the country, which has put the country in a tight spot. GSK's exit from Nigeria rattled the country's healthcare system as significant drugs that the British giant manufactured became instantly scarce and expensive. Analysts have blamed the exit of the companies on the harsh operating environment and foreign exchange volatility.

The exit of multinational companies has thrown about 20,000 Nigerians into the labour market. After Sanofi, GSK, another consumer giant moves to dissolve operations in Nigeria, gives reasons Legit.ng reported that leading consumer goods manufacturer Procter & Gamble has revealed plans to dissolve its on-ground operations in Nigeria and turn the country into an import market.

The company's Chief Financial Officer, Andre Schulten, disclosed this during a Morgan Stanley Global Consumer and Retail Conference presentation. The consumer giant stated that it is challenging to do business in Nigeria as a dollar-dependent company and that the macroeconomic reality in Nigeria is responsible for its decision.

Ovo200:
Another propaganda bro

State the name of the company and what they will be investing in
If you were to be an investor would you invest in the current Nigeria economy??

Mr man don't live by lie
Great economies aren't built by propaganda

Tell your lord and saviour to respect the rule of law(British common law), without the respect for the rule of law no economy can grow.

FreeStuffsNG:
Thank you for bringing those investments to Nigeria. Nigeria remains a global investment haven.

I am profoundly proud of the brilliant and patriotic leadership of President Bola Ahmed Tinubu. This is a wise decision of building on the ground work done by President Buhari who ensured that our relationship with Germany remains excellent.

At the last UNGA to be attended by Angela Merkel, it was only Nigeria's President Muhammadu Buhari in the whole UN General Assembly who recognized, appreciated, honoured and wished then outgoing German Chancellor Angela Merkel a successful post-retirement despite all Dr. Angela Merkel did to help a lot of countries including Greece etc.

Today, Angela Merkel's successor and Buhari's successor are reaping from the relationship and taking it to the next level. Practice only quality people in your life.

For those who don't understand the real issue of GSK exit yet filled with hate ignorantly blame Nigeria, these profit-oriented companies are taking business decisions to keep their business lean, competitive and profitable.

Here, read Why Sanofi is not exiting Nigeria but changing its global business model
https://www.nairaland.com/7918252/why-sanofi-not-exiting-nigeria
Check my signature for free stuffs!

pquaver:


Neesayers PI & D supporters...
Lagos ibadan railway was propaganda
2nd 9ja bridge was propaganda
Lekki seaport was propaganda
Many more wonderful projects were all propaganda to those who are against Nigeria always only to love it 1 year to election more than those u stick to the country in all weather

FreeStuffsNG:
Thank you for bringing those investments to Nigeria. Nigeria remains a global investment haven.

I am profoundly proud of the brilliant and patriotic leadership of President Bola Ahmed Tinubu. This is a wise decision of building on the ground work done by President Buhari who ensured that our relationship with Germany remains excellent.

At the last UNGA to be attended by Angela Merkel, it was only Nigeria's President Muhammadu Buhari in the whole UN General Assembly who recognized, appreciated, honoured and wished then outgoing German Chancellor Angela Merkel a successful post-retirement despite all Dr. Angela Merkel did to help a lot of countries including Greece etc.

Today, Angela Merkel's successor and Buhari's successor are reaping from the relationship and taking it to the next level. Practice only quality people in your life.

For those who don't understand the real issue of GSK exit yet filled with hate ignorantly blame Nigeria, these profit-oriented companies are taking business decisions to keep their business lean, competitive and profitable.

Here, read Why Sanofi is not exiting Nigeria but changing its global business model
https://www.nairaland.com/7918252/why-sanofi-not-exiting-nigeria
Check my signature for free stuffs!

FreeStuffsNG:
Thank you for bringing those investments to Nigeria. Nigeria remains a global investment haven.

The naysayers, unpatriotic elements, criminal defamers, and cyberbullies will never be blessed by Nigeria.

I am profoundly proud of the brilliant and patriotic leadership of President Bola Ahmed Tinubu. This is a wise decision of building on the ground work done by President Buhari who ensured that our relationship with Germany remains excellent.

At the last UNGA to be attended by Angela Merkel, it was only Nigeria's President Muhammadu Buhari in the whole UN General Assembly who recognized, appreciated, honoured and wished then outgoing German Chancellor Angela Merkel a successful post-retirement despite all Dr. Angela Merkel did to help a lot of countries including Greece etc.

Today, Angela Merkel's successor and Buhari's successor are reaping from the relationship and taking it to the next level. Practice only quality people in your life.

For those who don't understand the real issue of GSK exit yet filled with hate ignorantly blame Nigeria, these profit-oriented companies are taking business decisions to keep their business lean, competitive and profitable.

Here, read [b]Why Sanofi is not exiting Nigeria but changing its global business model
https://www.nairaland.com/7918252/why-sanofi-not-exiting-nigeria
Check my signature for free stuffs![/b]

oguns222:


Oga shut up. How long do you hope to keep on deceiving yourself by spinning propaganda?

You fooled yourself for 8 years and still fooling yourself today. You want to fool yourself for another 8 years? That means you live the life of a fool for 16 years.

Hope they are sha paying you substantially for fooling yourself? If not, you'll be the most foolish of men.

Ovo200:
Another propaganda bro

State the name of the company and what they will be investing in
If you were to be an investor would you invest in the current Nigeria economy??

Mr man don't live by lie
Great economies aren't built by propaganda

Tell your lord and saviour to respect the rule of law(British common law), without the respect for the rule of law no economy can grow.

Benwallt:


But nobody is begging you to invest. Why wailing over how other people want to spend their money. All men look but see differently.

You may be seeing danger due to your upbringing, several years of abuse or simply how your brain is configured but that's just you, others see from their own lenses