Vibrant Pharmaceutical Industry Critical To Achieving Economic Growth

…as investiture of 14 new fellows holds on Thursday

Pharmacists under the auspices of The Nigeria Academy of Pharmacy (NAP) have called for the establishment of policies that support the growth of pharmaceutical industries in Nigeria, saying a vibrant pharmaceutical sector could help revive the economy setting it on the path of growth.

Chairman, Annual General Meeting (AGM)/Investiture Committee, NAP, Prince Paul Osogbe Enebeli who made the call in Lagos, said establishing policies that would make local production of active pharmaceutical ingredients (API) possible will go a long way to help.

He also called for creating access to foreign exchange for the pharmaceutical industry

Speaking at a press conference ahead of the Investiture of 14 New Fellows and 9th annual general meeting (AGM), Enebeli said: “The Nigeria Academy of Pharmacy has carefully chosen this year’s theme, ‘The Nigerian Economy and the Future of the Pharmaceutical Ecosystem.’

This theme is now more relevant as we increasingly face the challenges of insecurity, the removal of fuel subsidies, exchange rate reforms, etc. which continue to impact negatively on the business environment.”

To this end, he noted that turning the pharmaceutical industry around can impact the nation economy’s positively. He said a situation where 70 per cent of national consumption of medicines is imported should be addressed.

He urged Federal Governments to consider that medicine being the center of therapy, should be a security issue.

“We need a policy that ensures APIs are produced locally; we cannot do manufacturing without APIs.”

Director of Programmes, Dr Lolu Ojo, said the more than N33 billion worth of debt arising from drug revolving fund (DRF) from across various hospitals should be redeemed without further delay.

According to him, the government is the greatest debtor of the pharmaceutical industry, saying for the sector to thrive, there must be patronage, especially by the government.

He lamented that government-owned hospitals are “owing some of our members more than N33 billion for drugs purchased under the DRF. There should not be any reason for this debt except corrupt tendencies by those heading those hospitals.”

Secretary General, Nigeria, Academy of Pharmacy ( NAPharm), Prof Lere Baale while calling for the revitalisation of primary health care (PHC), affirmed that the measure will help the health sector.

He called for the digitalisation of healthcare systems to categorise the prevalence of diseases within specific areas to help in the deployment of manpower.

Similarly, Baale said there was a need for private partnerships that include pharmacists who can carry out routine vaccinations.

Enebeli said since its inauguration in 2014, the NAP (NApharm) has emerged as a leading force in advancing pharmaceutical practice and promoting excellence within the industry.

He said the foundational members in 2014 were 41 Fellows, which has now progressively grown to 105 by the end of last year. The Investiture of 14 new Fellows will bring the aggregate to 119.

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