The Deputy Governor of Imo, Mr Placid Njoku, has urged indigenous pharmaceutical companies in Nigeria to make use of medicinal local plants and herbs as Active Pharmaceutical Ingredients (API) in the production of their drugs.
Njoku made the call at the fifth anniversary of St. Racheal’s Pharma and launch of its new Antibiotics Brand, Azithromycin, in Lagos.
The event had as its theme: `Manufacturing Renaissance: A Must for Prosperity in Nigeria.’’
According to him, there are many herbs that can serve as Active Pharmaceutical Ingredient (API), which make up majority of the over 70 per cent of imported drugs.
Consequently, he encouraged local manufacturing companies to leverage it and make the country a less import dependent country.
He said that Nigeria, with its huge population, depended on countries like India, China, Germany, United States, Pakistan and Netherlands for 70 per cent of its drug needs, spending billions of naira.
He lamented that in spite a large pharmaceutical subsector in the country, with at least 100 manufacturing companies, Nigeria only serviced about 30 per cent of local medical needs, thereby resulting to high importation of drugs and exposure to counterfeit drugs.
“ For instance, the country imports over N200 billions of malaria drugs and about N600 billion of antibiotics every year.
“In one quarter of 2021, it imported about N395 billion worth of antibiotics to battle diseases associated with COVID-19.’’
He noted that the total amount the country spent on importing drugs exposed the country to international drug risks, while essentially funding the pharmaceutical industry of other countries across the world.
Also speaking at the event, Mr Jimi Agbaje, a pharmacist, said there was need for government to make the right policies and provide necessary support to drive Nigeria’s pharmaceutical industry appreciably.
According to him, the industry records slow progress simply because many manufacturers find it difficult to break even let alone make profit due to unfavourable climate.
He identified huge operational costs, limited raw materials, power supply and unfriendly government policies as factors hindering production processes.
He said there were so many Nigerian manufacturers with big dreams and potential to do well but needed support and enabling environment to do so.
The Managing Director/Chief Executive Officer of May & Baker Nigeria, Patrick Ajah, also lamented the major challenges of pharmaceutical manufacturers, which included poor power supply.
He said that as much as over N250 million was spent monthly on power generation.
He also listed high interest rates, regulations, policies, extortion of companies by government agencies and poor infrastructure as factors affecting pharmaceutical companies in Nigeria.
“The country needs to find other ways to participate in global economy, especially as it has signed the Africa Continental Free Trade Agreement (AfCFTA).
“Local pharmaceutical production can help the vulnerable population gain access to quality medicine as seen during COVID-19.’’
According to Ajah, there are about 115 local pharmaceutical manufacturers taking care of the drug needs of less than 40 per cent of the country’s population, compared to India that has about 3,000 registered pharmaceutical companies and over 10,500 manufacturing sites.
“If we don’t build our manufacturing sector, other countries will come and claim it from us by building their facility and taking the money back to develop their countries,” he alerted.
In his remarks, Mr Akinjide Adeosun, Chairman & Chief Executive Officer (CEO) of ST.RACHEAL’S™ Pharmaceutical Nigeria Limited, said he was overjoyed at the progress of the company.
Adeosun, a Pharmacist and Founder of the Akinjide Adeosun Foundation (AAF), emphasised that ST.RACHEAL’S™ quest was to improve life expectancy through the availability of top-quality affordable pharmaceuticals in Africa.
He said that the enterprise was founded on Excellence, Integrity and Empathy values and that the organisation was privileged to have Medreich as its manufacturer of high quality drugs.
He urged everyone to be fearless, focused, not relent, dream big and live out the dreams.
He expressed optimism that the pharmaceutical sector in the country would be great especially if government commits to funding the pharmaceutical and manufacturing sector for the desired renaissance.
