GSK Nigeria Gains N372m in First Six Months of 2019

By Aduragbemi Omiyale This news from Fidson Healthcare Plc will excite the more than 1.9 million HIV-infected people in Nigeria as the company has signed a strategic deal with a Chinese firm, Aidea Pharmaceutical Company Limited for the production of innovative drugs for the treatment of the disease. The Nigerian company, in a statement, said it sealed the agreement in Yangzhou, China, on Monday, November 13, 2023, to address the medical challenges faced by infected persons in the country. Fidson said it would collaborate with Aidea to manufacture, promote and sell products that would help with the treatment of HIV.

By Adedapo Adesanya The Coordinating Minister of Health and Social Welfare, Dr Muhammad Pate, has said Nigeria could become a hub for vaccine production and distribution in Africa, banking on his experience at GAVI. According to him, this can be achieved with the country’s large population, skilled workforce, and existing pharmaceutical industry. “On local vaccine manufacturing, as you are all aware, until I came back as a Minister, I was going to work with GAVI, an international organisation created in 2000 to improve access to new and underused vaccines for children living in the world’s poorest countries. And GAVI also

By Dipo Olowookere African governments have been charged to adopt “a more innovative model of primary health delivery with grassroots-focused universal health coverage structure that is customised to suit the peculiarities” of the continent. This advice was given by the Chairman and chief executive of Elkris Group, Dr Elliott Scott Omose, during a media chat with newsmen over the weekend. The healthcare practitioner, who described primary healthcare in Africa as non-existent, said the continent has the capacity to deliver quality service to its citizens. Mr Omose is also the founder of PreDiagnosis International, an innovative public healthcare management non-profit organisation

By Bliss Okperan The Bill Gates Foundation has selected nine Nigerian health startups, along with 20 others from other parts of Africa, for a $50,000 equity-free grant to boost the healthcare supply chain on the continent. The nine Nigerian small firms were chosen as part of Investing in Innovation Africa (i3), a pan-African initiative for startups in the healthcare supply chain. The Nigerian companies which make up the second cohort include Famasi, Aimcare, Afia, Drugstore Nigeria, Healthtracka, Octosoft Technologies Limited, Pharmarun, Pharmaserv Health Project Nigeria Ltd, and Wella Health. The cohort includes startups that are building online pharmacies and telemedicine

By Modupe Gbadeyanka Headquarters of Niger Delta Power Holding Company (NDPHC) at the Central Business District in Abuja has been shut down by officials of the Federal Inland Revenue Service (FIRS). The company’s head office was sealed last Thursday by a team led by Mrs Anita Erinne over tax liabilities totalling N9.8 billion. In a warrant signed by the FIRS Chairman, Mr Tunde Fowler, it was said that the liabilities comprise Corporate Income Tax, Education Tax, Value Added Tax and Withholding Tax, were incurred between 2007 and 2017. Also on that day, the FIRS sealed the premises of defaulting companies

By Dipo Olowookere The exchange rate of the Naira to the Dollar in the black market window of the foreign exchange (forex) market in Nigeria is not looking good, and this has heightened fears among traders and investors. For investors, it has almost become an everyday affair for the Nigerian currency to lose its value against the United States currency because holding the Naira is risky, especially for portfolio investors. For FX traders on the streets, the market is becoming too volatile, and they are very cautious that things might swing either way anytime soon. Each day is treated as

By Adedapo Adesanya In an effort to achieve a robust digital economy, the National Information Technology Development Agency (NITDA) is set to establish a Centre for Artificial Intelligence and Robotics in Nigeria. This was disclosed by the Director-General of the agency, Mr Kashifu Abdullahi Inuwa when he received Vice-Chancellors Nile University Abuja, Mr Osman Nuri Aras and Vice-Chancellor, Sule Lamido University, Dutse, Mr Lawal Sani Taura on separate visits to the headquarters of the agency in Abuja. In a statement released by the agency, the DG said the proposed state of the art facility will be for emerging technologies in

By Dipo Olowookere Nigeria’s first professor of capital markets, Mr Uche Uwaleke, has warned that the nation’s equities market was too vulnerable to external shocks. According to him, this was so because of the small size of the market. To limit the impact of an external shock on the local bourse, efforts must be made to expand it, he said. The highly respected financial expert lamented that it was unfortunate that foreign portfolio controls larger percent of the Nigerian market when compared with domestic investors. “Foreign investors are significant players in the equities market, often dictating the pace of market

By Dipo Olowookere The Next Einstein Forum (NEF) and the Government of Rwanda yesterday hosted the second NEF Ministerial Meeting to leverage research networks and funding mechanisms to drive Africa’s long term progress. Under the theme, ‘Collaborative Global Research Networks: Implementing Essential Actions’, the meeting reviewed three important themes arising from the first ministerial meeting held in Dakar, Senegal in March 2016. The issues deliberated upon were increasing the number of PhDs, creating and structuring the Africa Research Chair Initiative (ARCI) and developing mechanisms to harness research mobility within Africa. The NEF Ministerial Meeting is held every six months to

By Modupe Gbadeyanka Leading independent pan-African banking group, Ecobank, recently offered free voluntary HIV testing for its members of staff. This was part of activities marking the 2016 World AIDS Day held on December 1. Ecobank Group CEO, Mr Ade Ayeyemi, and several members of senior management were among staff who volunteered to take the test. According to Mr Ayeyemi, “Effectively tackling HIV remains one of Africa’s most pressing public health challenges. As a leading pan-African bank with the largest footprint in the middle of Africa, Ecobank has a leadership responsibility to join hands with the world to end this

By Adedapo Adesanya President Muhammadu Buhari has disclosed that the Business Facilitation Act would help the Nigerian economy as it will grow and create jobs, and make the country’s small and medium enterprise sector vibrant. President Buhari spoke at State House, Abuja, as he received the Governing Council and members of the Institute of Directors led by its President and Chairman, Mrs Ije Jidenma, on Thursday. In his words, “I was particularly interested to learn that you not only cater to large corporates but are aware that for any economy to grow and create jobs, we need an equally vibrant

By Modupe Gbadeyanka Minister of Federal Capital Territory (FCT), Mr Muhammad Musa Bello, has promised to make Abuja, one of the greenest cities in the world and among the tops in the ease of doing business. Mr Bello made this commitment when the delegation of Abuja Business Forum (ABF) led by Arch. Tunde Imolehin, paid him a courtesy visit in Abuja to introduce the idea behind the forum. To this end, the Minister said that the FCT Administration (FCTA) will partner with ABF to adopt a standard model for gardens and green parks to enhance the quality of business and