• Thursday, February 29, 2024
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BusinessDay

Security solutions firm G4S sees large market in Nigeria

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G4S, leading security solutions group, is excited about the prospects of Nigeria’s security market, according to Nick Buckles, the company’s group chief executive officer, on the occasion of the commissioning of G4S new head office recently in Lagos.

According to Buckles, the company remains resolved to maintain high international standards. G4S is the ultimate parent company of G4S Secure Solutions Nigeria Limited, and operated in Nigeria through its various companies for the past thirteen years.

A report by the Business Day research unit found that The Ministries of Defence and Police Formation and Commands, ranked second and third on the top ten Federal Ministries budget outlay with an allocation of N349 Billion and N311 Billion respectively, underscoring the growing need for security services in the country.

According to Business Day findings, G4S which specialises in sectors where security and safety risks are considered a strategic threat, has an enviable standard and a credit rating of AAA, making it a secure and viable, internationally recognised, counterpart for governments and international companies alike.

Figures show G4S has a turnover of over $10 billion and a market capitalisation equivalent of $3.5 billion, with net assets of $1.5 billion, placing it as the 51st largest company in the United Kingdom main stock market as measured by capitalisation.

‘‘G4S has operations in 125 countries and over 657,000 employees, making it the second largest private sector employer in the world. It has operations throughout Africa, with representation in more than 40 countries across the continent, however it takes cognisance of the fact that Nigeria is an important market in the region,’’ Buckles said, adding that the company has the expertise, experience and systems to ensure that the highest international standards are maintained.

Also speaking, the regional president, Africa, G4S Plc, Andy Baker said the company’s accomplishments in the region thus far was impressive, noting that as a leading integrated security solutions provider, “it is our responsibility to ensure that our actions are both positive and contribute to a safer and more secure society for everyone, whether they are employees, customers or investors.”

G4S principal business is the provision of marine security, installation of security equipment and management of control room, including secure journey management services.