PZ Nigeria Plc has quashed rumors surrounding its purported exit from Nigeria, asserting its commitment to remaining in the country.
According to The Nation, a senior official from the company clarified that shareholders have collectively decided to stay and build upon their extensive 124-year business legacy in Nigeria.
The official, speaking on condition of anonymity due to a lack of authorization, disclosed that during the recent Annual General Meeting at Transcorp Hotel, Abuja, the Board of Directors unequivocally resolved not to exit Nigeria.
In contrast to other companies considering departure, he emphasized the significance of Nigeria as a crucial market for PZ, stating, “We are not going anywhere.”
Highlighting the pharmaceutical company’s enduring presence of 124 years in Nigeria, the senior official acknowledged the challenges but underscored the importance of considering the benefits accrued over such a lengthy period.
While affirming the decision to stay, the official revealed that the board is in discussions to buy out minority shareholders, with ongoing negotiations aimed at reaching an agreeable price.
