In a bid to ensure unhindered access to medication, the Association of Community Pharmacists of Nigeria (ACPN) and Moniepoint Inc.,, a financial institution, are partnering to empower pharmacists with innovative payment solutions and capital.
A case study titled “Inside Nigeria’s Community Pharmacies: How Moniepoint Drives Healthcare Access with Payments and Funding” was released on Wednesday.
A pharmacist and national chairman of ACPN, Mr Ambrose Igwekwama, spoke at the event held in Lagos and highlighted the critical role community pharmacies have played in Nigeria’s healthcare system over the years.
Igwekwama noted that challenges including poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities have affected the pharmaceutical industry
He emphasised the need to strengthen collaborative efforts with institutions like Moniepoint in order to improve health outcomes across the country.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There’s also the African Continental Free Trade Area Agreement which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much-needed foreign exchange from exports.
`We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria.
“With an average of 480,000 daily footfalls across over 6,000 community pharmacies in Nigeria, the ACPN plays a vital role in Nigeria’s healthcare as front-line workers who promote public health beyond dispensing medications.
Also, the first National Vice-President, of the Nigerian Medical Association (NMA), Dr Benjamin Olowojebutu, harped on the imperative of catering to the health needs of those living in rural and underserved areas across the country.
“Nigeria’s population is more rural than urban, so how do we reduce the rural-urban migration and intra-urban migration which has also become pervasive and how do we reduce uneven development across the country?
”I must commend the leadership of ACPN for collaborating with a forward-thinking, thought-leading organisation like Moniepoint to produce this insightful report.
“I am confident that this work would help us as Nigerians to see how we can channel research to affect funding for healthcare,” he said.
The Vice-President, of Corporate Affairs, Moniepoint Inc, Didi Uwemakpan, who presented the case study said community pharmacies provide very insightful commentary on critical aspects of running a pharmacy.
Uwemakpan said the study reveals a shift towards digital payments while exploring challenges around limited access to capital for stocking inventory and expansion and sourcing quality drugs, particularly given the high proportion of imported pharmaceuticals and the prevalence of counterfeit medications.
According to him, some of the major findings from the case study show that 82 per cent of pharmacies offer additional health services beyond dispensing drugs while only 7.69 per cent of customers prefer to pay pharmacies exclusively with cash.
He added that Lagos had the highest concentration of community pharmacies at 10 per cent while 76 per cent of pharmacies’ expenses go towards stocking goods.
He said the finding revealed that there were no fewer than two million unlicensed pharmacies and patent medicine stores in Nigeria.
Uwemakpan further explained that Moniepoint’s role in supporting pharmacies included deploying its Point of Sale (POS) terminals, which have become the preferred payment method in most Nigerian pharmacies.
“We are pleased to partner with ACPN on this game changing report and Moniepoint’s reason for being is in creating financial happiness and powering dreams.
NAN
