ga('send', 'pageview');

Minister Praises Fidson On New Factory

fidson factory

Fidson Healthcare Plc has been commended for its newly constructed multi-billion Naira state-of-the-art manufacturing facility.

Minister of Health, Professor Isaac Adewole, made this commendation when he recently visited the factory located at Sango Ota, Ogun State.

Prof Adewole reaffirmed federal government’s support for local pharmaceutical manufacturing, saying that with the new facility, Fidson deserves the support and patronage from government and other stakeholders.

The Minister said he was “impressed with its enormous production capacity.”

According to him, “What Fidson has built here is extraordinary. We must encourage and support this project in terms of patronage and tax relief in order to ensure that the company is able to coordinate production in a sustainable manner.”

He further remarked that part of the support will also be in the area of importation of raw materials. “We will get the Sovereign Wealth Investment Authority to witness this so that there can be support in terms of getting on board more raw materials needed for drug manufacturing.”

ALSO READ  Minister Gets Restructuring Residency Training Programme Report

Prof Adewole also promised a review of the policy on importation tariff on raw materials, particularly as it affects local manufacturing of medicines in Nigeria.

“We have discussed with the Minister of Trade and Investment asking for a reversal of the policy on the high tariff on imported raw materials. My visit to this new factory is another reminder in that regard,” he said.

He further stressed that the guiding principle of the present administration is focused on creating the market for local manufacturers through patronage, protection and payment.

“As far as patronage is concerned, the government will patronise local pharmaceutical manufacturers. We will also offer protection while ensuring that we clear outstanding payments and will only place orders when there are funds for immediate payment.”

ALSO READ  Heritage Bank, Oyo Partner on N50b Healthcare Endowment Fund

The new manufacturing facility is one of the five facilities shortlisted for World Health Organisation (WHO) certification in Nigeria.

It is an ultra-modern facility with high-tech machinery for manufacturing pharmaceutical products, in compliance with global standards and WHO certification.

The plant, which boasts of an unprecedented capacity for drug production, is equipped with six production lines – tablets, Capsules, Liquids, Cream and Ointments, Dry Powder and Intravenous fluids to meet the needs of the Nigerian and West African markets.

Speaking on the Minister’s familiarisation visit to the factory, the Managing Director, Fidson Healthcare Plc, Dr Fidelis Ayebae expressed optimism that with government’s support, the new plant would not only boost local pharmaceutical manufacturing capacity, it will also transform the country’s pharmaceutical industry and the economy at large.

ALSO READ  Guinea Celebrates Ebola Vaccine Successes

Dr Ayebae said the present position of the country’s pharmaceutical manufacturing business requires such transformational investment as the new Fidson plant, to meet future healthcare demands of Nigerians. He noted that with the completion of the plant, Nigerian pharma industry stands a chance of being launched into global reckoning and attract foreign investors.

Dr Ayebae highlighted the several benefits of the factory to include high quality and affordable healthcare products, world-class pharmaceutical manufacturing capacity, employment generation, increased local content, generation of stronger partnerships, as well as strategic brand and market positioning.

He said the plant would manufacture large scale pharmaceutical products that would take care of the healthcare needs of Nigerians, thereby further strengthening the company’s leadership position in the Nigerian pharmaceutical industry and also place the company on the global pharmaceutical reckoning.

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: