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Local Drug Manufacturers Want Lower Interest, Exchange Rates

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Medication Drugs

By Adedapo Adesanya

The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) has called on the government to bring down the interest and exchange rates.

The group attributed fluctuations in forex as a major reason for the exit of some pharmaceutical multinationals from Nigeria.

The group at a news conference in Lagos on the forthcoming 7th Edition of the Nigeria Pharma Manufacturers Expo (NPME) from September 4 to 5, 2024, bemoaned the paucity of FX in the country, saying it had negatively affected the local pharmaceutical industry.

Recall that some multinational pharmaceutical companies, including GlaxoSmithKline and Sanofi Nigeria Limited, exited the country within the past year.

The Chairman of the Local Organising Committee (LOC) of NPME 2024, Mr Patrick Ajah, said that for the domestic pharmaceutical industry to progress, a stable exchange rate was essential.

Mr Ajah, a pharmacist and the Managing Director of May & Baker, said that many companies are also on standby for the implementation and take-off of the recently announced Executive Order.

On June 29, President Bola Tinubu signed an Executive Order removing tariffs and Value-Added Tax (VAT) on pharmaceutical imports.

The order introduces zero tariffs, excise duties, and VAT on specialised machinery, equipment and pharmaceutical raw materials to bolster local production of essential healthcare products.

The order has yet to take effect.

“Unless the value of Naira is fixed, achieving the country’s target of 70 per cent in local drug manufacturing will remain a mirage.

“The government will need to do certain things to achieve 70 per cent local drug production.

“The recent fluctuations in the value of the Naira have made it difficult for companies to plan and invest.

“This is one major reason why multinational companies are leaving. It’s not the fear of subsidy removal.

“If we didn’t tamper with the currency, all the multinational companies would be here and they would still be making more investment.

“[However], if somebody brought his money, when they were bringing the money, and all the money from outside by multinational companies will have to go through the banking system.

“I’m telling you because I was involved in it. And when it gets through the banking system, it will be at the official rate.

“So, you brought in money to come and build a facility at the exchange rate of N316, and now you’re going to be remitting the money at N1,500 and something, and you can’t even find the Dollar.

“Many companies will not be able to cope. So fixing our exchange rate is going to be the one single thing that will immediately reset where we are,” he said.

Mr Ajah also called for increased government support for the local pharmaceutical industry.

According to him, with the right support, Nigeria can produce 70 per cent of the medicines it consumes.

He cited India as an example, saying that the country supported its domestic pharmaceutical industry, and today, India is notable for drug manufacturing.

“The Indian government has provided financial and technical assistance to local manufacturers, and has even intervened to secure technology from other countries,” he said.

Mr Ajah asserted that Nigeria had the capacity for local production of diverse drugs but that many companies lacked the financial resources to invest in new facilities or upgrade existing ones.

According to him, the recent devaluation of the Naira worsened the challenge.

He called for a reduction in interest rates, saying that the current rates, which are as high as 30 per cent, present a major barrier to investment in the industry.

On his part, Mr Frank Muonemeh, the Executive Secretary of PMG-MAN, asserted that local pharma manufacturers were currently producing 40 per cent of the medicines used in the country.

He, however, urged for partnerships between governments and local companies, similar to what was being given to other industries such as the cement manufacturing and petroleum industries.

Mr Muonemeh stressed that a strong domestic pharmaceutical industry would strengthen national security.

The 2024 Edition of NPME, the PMG-MAN is themed 40 Years of Advocacy: Fostering Partnership and Innovation to Unlock the Pharma Manufacturing Value Chain in Nigeria, Central & West Africa.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Health

QPSI Offers Free Healthcare Services, Others to 500 Ajegunle Residents

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QPSI 500 Ajegunle Residents

By Modupe Gbadeyanka

Over 500 residents of Ajegunle in Lagos enjoyed free healthcare services, comprehensive health education, youth mentorship, and community engagement activities at a one-day event organised by Queens Palm Support Initiative (QPSI).

This is part of the organisation’s Reach 1000 Initiative, deliberately designed to address immediate healthcare needs and empower individuals with the knowledge, resources, and support required to live healthier, more productive, and dignified lives.

QPSI is a non-profit organisation established by Ms Sabrina Ozma dedicated to advancing community development, healthcare advocacy, youth empowerment, leadership education, and social impact interventions across Nigeria. Fou

At the Ajegunle programme held at Bola Ige Millennium School, Tolu Complex, participants received a comprehensive range of healthcare services facilitated by accredited medical professionals, including general medical consultations and health assessments, malaria screening, diagnosis and treatment, blood sugar testing and diabetes awareness, comprehensive eye examinations and vision assessments, as well as specialist neurosurgical consultations provided by medical experts from Dukes Neurosurgery and Specialist Hospital.

Also, Reals Pharmaceutical Limited provided and distributed antimalarial medications to beneficiaries, ensuring continuity of treatment and improved health outcomes beyond the day of the outreach.

Ms Ozma, while speaking at the event, said access to quality healthcare remains one of the most pressing challenges confronting underserved communities across Nigeria.

According to her, interventions such as the Reach 1000 Initiative are deliberately designed to close this gap, not only by addressing immediate healthcare needs but by empowering individuals with the knowledge, resources, and support required to live healthier, more productive, and dignified lives.

Beyond healthcare delivery, the initiative featured structured health education and awareness sessions focused on disease prevention and early symptom recognition, personal hygiene and sanitation best practices, nutrition and food safety, healthy lifestyle habits, and the importance of routine medical check-ups.

In addition, a media personality and youth advocate, Ms Blessing Lopez, led engaging conversations around personal growth, confidence, and purpose-driven living, while entertainer Larry J inspired participants through discussions on resilience, positive decision-making, and the importance of becoming active contributors to societal progress.

The programme also attracted notable participation from government institutions and civil society organisations, highlighting the importance of multi-sector collaboration in addressing community challenges.

The Executive Secretary of the Lagos State Domestic and Sexual Violence Agency (DSVA), Mrs Titilola Vivour-Adeniyi, engaged participants on safeguarding, protection against domestic and sexual violence, and the importance of building safer communities.

Further, representatives of the Cleen Foundation facilitated discussions on crime prevention, community security, and the role of young people in promoting civic responsibility and the rule of law, while the Crime Prevention Partnership (CPP) led discussions on community-led safety strategies and citizen participation in fostering safer neighbourhoods.

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WHX in Lagos 2026: Nigeria Open for Healthcare Investment—FG

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WHX in Lagos 2026

By Modupe Gbadeyanka

The federal government has urged global investors and innovators to tap into the Nigerian healthcare ecosystem, which is projected to grow by 7.1 per cent, reaching a market value of $161.7 million by 2027.

This advice was given by the Minister of State for Health and Social Welfare, Mr Isiaq Salako, at the opening of the World Health Expo (WHX in Lagos 2026), formerly known as Medic West Africa, on Tuesday in Lagos.

The broader West African market is expected to reach more than $11 billion, providing investors with an opportunity to get a good return on investment.

“Nigeria is open for healthcare investment. We want platforms like WHX in Lagos to serve as a critical conduit for translating this investment ambition into tangible technology access for our hospitals and patients,” the Minister, who declared the event open on behalf of President Bola Tinubu, said.

He praised the organisers of the expo, which welcomed over 8,000 healthcare professionals and 500 exhibitors spanning 40 countries, for growing the programme into a vital catalyst for West African healthcare transformation.

Addressing the stark reality that between 85 per cent and 99 per cent of medical equipment and in vitro diagnostics in West Africa are currently imported, Mr Salako outlined aggressive federal interventions designed to dismantle supply chain vulnerabilities and skyrocket local manufacturing capabilities.

He also spotlighted key presidential directives, including the Presidential Initiative to Unlock Healthcare Value Chains (PVAC) and the Presidential Executive Order for the Pharmaceutical and Allied Sectors, both engineered to catalyse health security, drive economic growth, and generate employment through strategic private-sector collaborations and Public-Private Partnerships (PPPs).

“Our commitment to improving access to modern equipment and technologies in hospitals is backed by concrete action. The government has inaugurated the $1.2 billion Sector-Wide Approach (SWAP) initiative, a comprehensive overhaul addressing financing, workforce development, and infrastructure.

“Furthermore, for the 2025 fiscal year, the Federal Government committed N402 billion specifically for health sector infrastructure investment,” he stated, also highlighting an expansive health infrastructure upgrade program in partnership with the Nigeria Sovereign Investment Authority (NSIA).

According to him, this phased initiative is actively delivering oncology and nuclear medicine centres across six tertiary hospitals, alongside establishing 22 modern medical diagnostic centres, seven cardiac catheterisation laboratories, and expanded radiology and clinical pathology capabilities distributed across Nigeria’s six geopolitical zones.

Also speaking, the chief executive of EHA Clinics, Dr Ifunanya Ilodibe, stressed the urgent need to support and unify fragmented growth within the healthcare system, noting that WHX serves as the precise ecosystem platform required to bring together policymakers, clinicians, and investors to move actionable strategies forward.

Also, the President of the Healthcare Federation of Nigeria (HFN) and Country Director of PharmAccess, Njide Ndili, said, “HFN bridges the gaps in health financing, opening up critical connections to achieve true health sovereignty,” praising Africa CDC’s historical intervention, particularly during the Ebola crisis and urged participants to utilise the WHX exhibition floor to forge collaborations capable of scaling locally produced medical equipment.

The Lagos State Commissioner for Health, Mr Akin Abayomi, on his part, highlighted the enforcement of the National Health Insurance Authority (NHIA) Act in Lagos State as a landmark regulatory milestone. The Act mandates health insurance for all residents, structuring the financial environment to guarantee medical protection across various socioeconomic levels.

Delivering the keynote address, the Special Regional Representative of the Director General of the Africa CDC Western Regional Coordinating Centre, Prof. Aliko Ahmed, called on leaders in geopolitical positions to enact liberating trade policies aligned with the African Continental Free Trade Area (AfCFTA) to shape the continental agenda, emphasising that the Africa CDC will fiercely prioritise building trust in locally manufactured healthcare products.

WHX in Lagos 2026 runs for three days, featuring accredited forums, cutting-edge product showcases, and high-level networking tracks designed to translate billions in public and private investment into immediate technology access for hospitals and patients.

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Euracare Secures Court Order Halting Inquest into Chimamanda Son’s Death

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Euracare

By Adedapo Adesanya

The coroner’s inquest into the death of 21-month-old Nkanu Adichie-Esege, son of renowned author Chimamanda Ngozi Adichie, suffered a major setback on Wednesday after Euracare Multi-Specialist Hospital informed the coroner’s court that it had obtained an order of the Lagos State High Court staying further proceedings in the probe.

The matter came before Coroner Magistrate Atinuke Adetunji at Court 9, Igbosere Magisterial District, Yaba, Lagos, and was scheduled for the commencement of witness’ testimony.

Counsel to Euracare Multi-Specialist Hospital, Professor Taiwo Osipitan (SAN), told the court that the hospital had initiated judicial review proceedings challenging, among other issues, the jurisdiction of the Coroner’s Court to conduct the inquest in the absence of the deceased’s body.

He disclosed that the High Court had granted leave for the judicial review application and ordered that the leave operate as a stay of proceedings pending the determination of the suit.

The senior advocate also informed the court that although the Lagos State Attorney-General’s Office denied seeing the originating processes from the High Court, proof of service was available.

Responding on behalf of the family, Mr Kemi Pinheiro (SAN) confirmed receipt of both the originating processes and the High Court order.

While acknowledging the obligation of all parties to comply with court orders, he informed the coroner that the family had already filed four witness statements on oath, including that of Dr Ivara Esege, as well as statements from independent medical experts from Nigeria and the United States, who are expected to testify at the inquest.

Mr Pinheiro urged the court not to adjourn the matter indefinitely, but to a definite date after the court vacation to enable parties to report on developments in the High Court proceedings.

He also highlighted the need for transparency and public confidence in the fact-finding process, saying, “He who is innocent does not fear an open inquest.”

Counsel representing Atlantis Paediatric Hospital supported the request for a definite adjournment rather than an indefinite postponement.

Following submissions by counsel, the Coroner adjourned the matter until October 8, 2026, for a report on the status of the High Court proceedings.

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