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GSK, Producer Of Panadol, Shuts Down Operations In Nigeria

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GlaxoSmithKline (GSK) Consumer Nigeria Plc has announced that it will suspend operations after assessing the options for transitioning its pharmaceutical products to a third-party distribution strategy.

Augmentin, Neosporin, Panadol, Sensodyne, Advair, Ventolin, and Theraflu are among the company’s well-known products.

GSK Nigeria revealed the news in a statement delivered to the Nigeria Exchange Limited (NGX) on Thursday and signed by the company secretary, Frederick Ichekwai.

The firm stated that it is working with its counsel to agree on next actions and intends to file a scheme of arrangement with the Securities and Exchange Commission (SEC) that, if accepted, will result in the return of cash to all shareholders except its parent company, GSK UK.

The company, which employs over 290 people, assured that all necessary legal proceedings would be met as regards employees and shareholders.

‘In our published Q2 results we disclosed that the GSK UK Group has informed GlaxoSmithKline Consumer Nigeria PLC of its strategic intent to cease commercialization of its prescription medicines and vaccines in Nigeria through the GSK local operating companies and transition to a third-party direct distribution model for its pharmaceutical products,” the statement reads.

“The Haleon Group has also separately informed the Board of its intent to terminate its distribution agreement in the coming months and to appoint a third-party distributor in Nigeria for the supply of its consumer healthcare products.

“For the above reasons, and having, together with GSK UK, evaluated various other options, the Board of GlaxoSmithKline Consumer Nigeria Plc has concluded that there is no alternative but to cease operations.

“Today we are briefing our employees whom we will treat fairly, respectfully and with care, meeting all applicable legal and consultation requirements.

“The Board is conscious that shareholders will have many questions; we have been working assiduously with our professional advisors to agree on next steps and we will be shortly submitting to the Securities and Exchange Commission (“SEC”) a draft Scheme of Arrangement which may, if approved, see shareholders other than GSK UK, receive an accelerated cash distribution and return of capital.

“The Board acknowledges the support of the GSK Group in its intentions to make this possible, full details of which we hope to publish shortly. In the meantime, however, we cannot give you assurance of the final terms of any scheme, or that any scheme will be approved by the SEC or by shareholders.

“Shareholders are advised to seek professional advice and continue to exercise caution when dealing in the company’s shares until a further announcement is made.”

BIG STORY

JUST IN: Five Feared Dead As Bandits Attack National Park In Oyo

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Suspected bandits on Tuesday night attacked personnel of the National Park Service (NPS) in Oloka village, Orire Local Government Area (LGA), Oyo State.

Report says the attack occurred around 9:00 pm on January 6, 2026, catching the NPS personnel by surprise. Several officers were reportedly killed or injured during the incident.

Further details, including the exact number of casualties, are yet to be confirmed.

The state Police Public Relations Officer, Olayinka Ayanlade, was said to have confirmed the incident.

He said, “Yes, there was an attack by yet to be identified men against the men of the National Park. The Commissioner of Police and other service chiefs are currently on their way to the location.

“Meanwhile, the CP Femi Haruna has deployed tactical teams, Mobile Police Force officers of the NPF, and EOD to the affected area to prevent further breakdown of law and order,” he explained.

 

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BIG STORY

BREAKING: Peter Obi’s Ex-Running Mate, Datti Baba-Ahmed Declares Presidential Ambition

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The Labour Party’s Vice Presidential candidate in the 2023 election, Senator Datti Baba-Ahmed, on Wednesday formally declared his interest in contesting the presidency in 2027, amid ongoing realignments within Nigeria’s opposition space.

Baba-Ahmed, who was the running mate to former Labour Party presidential candidate Peter Obi, made the declaration at a rally held at the party’s national secretariat in Abuja.

His announcement comes barely one week after Obi announced his departure from the Labour Party for the African Democratic Congress.
This move has triggered intense debate over the party’s future and the direction of the wider opposition ahead of the next general election.

Addressing party members and supporters, Baba-Ahmed said his aspiration was neither reactionary nor dependent on Obi’s political decisions, stressing that his presidential ambition predates the 2023 election.

He said, “I have made myself to contest for the office in 2027. I’m not following anybody’s trajectory or stepping into anybody’s shoes.

“Can I please remind you that before His Excellency Governor Peter Obi filed for the presidency, I aspired for the presidency before him? The records are there for you to see.”

The former lawmaker recalled his earlier attempt to secure his party’s presidential ticket, noting that he had contested in the Peoples Democratic Party primaries years before aligning with Obi in the Labour Party.

“In October 2018, I participated in the primaries of the then PDP in Port Harcourt and walked to Obi for his vote, and he smiled at me. What a gentleman he was.

“If you heard me well in what I just submitted, I saw a rare opportunity for national unity to have elected Peter Obi in 2023. And that is why I decided to flow with it,” he said.

Baba-Ahmed also addressed concerns about religion and ethnicity, insisting that Nigeria’s constitution guarantees every qualified citizen the right to seek elective office.

“Yes, I am a practising Muslim. But I’m a Nigerian, and the constitution allows me to contest. You asked about my ethnicity. Yes, I am a Hausa man, and the Nigerian constitution also allows me to contest. I’m doing this because Nigeria needs help,” he said.

However, Baba-Ahmed noted that while he had made his intention known, he would adhere strictly to party and electoral guidelines.

“However, as a law-abiding citizen and a loyal party member, until the timetable is released by INEC and the leadership of the Labour Party calls for interested aspirants, I will not say anything about it. But remember I told you that Nigerians know the truth,” he stated.

Reacting, the National Chairman of the Labour Party, Julius Abure, commended Baba-Ahmed for remaining in the party despite speculations that he might defect following Obi’s exit.

Abure said the development demonstrated that the Labour Party remained intact, adding that several key figures, including the Abia State Governor, Alex Otti, had also chosen to stay back.

He said, “Only recently, the Abia State Governor, Alex Otti, told the world that he joined the party before Peter Obi did – this is true. Otti also said he was not going to defect to Peter Obi.

“On the night Peter Obi defected, I received a telephone call from our Vice-Presidential candidate in the 2023 elections, Dr Datti Baba-Ahmed. He said he is not leaving the party because it was the platform upon which he, along with the former candidate, received 10 million votes from Nigerians, which was reduced to 6 million votes. We all know what happened.”

Abure further disclosed that Baba-Ahmed personally suggested a meeting of party leaders and members to reaffirm unity within the party.

“In fact, he asked me to organise an event where members can come together. He first suggested that we meet at the Transcorp Hilton Hotel with a few senior members that he would foot the bill.

“But I suggested that we hold the event here at the party Secretariat and invite our members, artisans and ordinary people who truly own the party, and he agreed. That is why we are having this gathering here today.

“The Labour Party is intact, we will not let Nigerians down. We will remain together and provide a genuine alternative for Nigerians,” he said.

Baba-Ahmed’s declaration has added a fresh dimension to the emerging 2027 presidential contest, as parties begin early positioning amid shifting alliances within the opposition.

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BIG STORY

Venezuela To Hand Over Up To 50m Barrels Of Oil To US —— Trump

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Venezuela will be “turning over” 30 to 50 million barrels of sanctioned oil to the United States, President Donald Trump said on Tuesday in the aftermath of the toppling of Nicolas Maduro, who was seized from his country by U.S. forces over the weekend.

“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” Trump said in a social media post.

Trump announced in a post on his social media platform, saying he has directed Energy Secretary Chris Wright to implement the plan immediately.

According to the president, the oil will be transported by storage ships directly to U.S. unloading docks, where it will be sold at prevailing market rates.

“This oil will be sold at its market price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States,” Trump wrote.

The announcement follows a dramatic shift in Venezuela’s political landscape after U.S. forces captured former Venezuelan President Nicolás Maduro earlier this week, significantly reshaping Washington’s engagement with Caracas.

In addition to the oil transfer plan, Trump’s administration is organizing an Oval Office meeting with executives from major U.S. oil companies, including ExxonMobil, Chevron, and ConocoPhillips, to discuss Venezuela’s energy sector and potential future cooperation.

Venezuela holds some of the world’s largest crude oil reserves, but years of underinvestment, sanctions, and declining production have limited output. Analysts say the logistics of ramping up Venezuelan oil exports remain complex, even as U.S. policy shifts open the door to expanded involvement by American energy firms.

The move has triggered mixed reactions globally, as markets and governments assess the implications for energy supplies, geopolitical relations, and long-term stability in the Western Hemisphere.

 

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