Federal Government Expresses Concerns As Pharmaceutical Companies Exit Nigeria Over Non Domestication Issues

Federal Government Expresses Concerns As Pharmaceutical Companies Exit Nigeria Over Non Domestication Issues

The federal government has revealed that the departure of pharmaceutical companies from Nigeria is primarily attributed to the non-domestication of their products within the country. Dr. Tunji Alausa, the Minister of State for Health and Social Welfare, disclosed this information during a symposium on World Cancer Day organized by Project Pink Blue in Abuja………CONTINUE READING

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Contrary to circulating reports suggesting that the difficulty of doing business was the cause of pharmaceutical companies exiting Nigeria, Dr. Alausa emphatically dismissed such claims. He asserted that Nigeria possesses a substantial pool of manpower, which is a significant cost factor in running businesses globally.

Dr. Alausa clarified that the real issue leading to the exit of pharmaceutical companies is related to pharmaceutical laws in Nigeria. He pointed out the NAFDAC policy of 5+5, where after marketing drugs for five years, companies are expected to domesticate their production. However, some pharmaceutical companies failed to comply, continuing to market their products for decades without localization. In response to this situation, the government is currently reviewing pharmaceutical laws to prevent a recurrence.

Highlighting the vast opportunities for investment in Nigeria, Dr. Alausa stated that the country’s large population of 220 million is an attractive market. He assured that despite the exit of some companies, the government is actively working to encourage more investments and enhance local pharmaceutical companies to fill the gaps left by the departing ones.

Addressing the concern about the rising cost of pharmaceuticals and consumables, Dr. Alausa conveyed the government’s empathy and disclosed that President Bola Ahmed Tinubu is taking swift measures to address the issue. Executive orders are set to be issued to support pharmaceutical companies, ensuring a significant reduction in prices in the near future.

Runcie Chidebe, the Executive Director of Project Pink Blue, emphasized the importance of the symposium in addressing the high cost of oncology medications and called for the decentralization of cancer control in Nigeria. He urged collaboration among private sectors, government, and stakeholders at all levels to find solutions and support patients affected by the rising costs.

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Source: Bushradiogist