The Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria (PMG-MAN), has urged the government to craft suitable trade and regulatory policies to unlock the untapped value chain in the pharmaceutical space.
Mr Oluwatosin Jolayemi, the Chairman of PMG-MAN, made the call on Wednesday at the opening ceremony of the 7th Nigeria Pharma Manufacturers’ Expo (NPME) in Lagos.
The News Agency of Nigeria (NAN) reports that the biennial programme, jointly organised by PMG-MAN and GPE Expo PVT. LTD, is the largest exhibition of Central Africa and West Africa on complete pharmaceutical manufacturing.
The Expo, with the theme “Fostering Partnership and Innovation to unlock the Pharma Manufacturing Value Chain In Nigeria, Central and West Africa, had 55 companies both from China and India, and 100 PMG-MAN members in attendance.
Jolayemi said:” To create a win-win situation for all stakeholders in this sector, the Government and Pharma companies must be intentional and deliberate in crafting suitable trade, tax, regulatory, and fiscal policies that unlock the untapped value chain in the industry.
“These policies must foster partnerships and encourage the adoption of innovative models for the production of safe, affordable, high medicines for our nation’s growing population.
“A formidable local pharmaceutical industry in any nation must be matched with a strong forward thinking and supportive regulatory authority.
“It is imperative that our pharma organisations continue to strike a balance between attaining global certifications through constant substantial investments to increase local production”.
The chairman added that the theme of the expo was selected to reflect on the 40-year advocacy of the association for medicine security through robust and increase in drugs production in the country.
He lauded President Bola Tinubu for his executive order on Pharmaceutical Products, urging the necessary government agencies to harmonise their policies to avoid obstructing the implementation of the order.
The keynote speaker at the event, Prof. Padmasshree Gehl Sampath, the CEO of Africa Pharmaceutical Technology Foundation in Rwanda, said that local pharmaceutical manufacturers play a vital role in ensuring drug security of a nation.
Sampath, represented by Dr Olajide Adebola, Project Coordinator at the National Institute For Pharmaceutical Research And Development (NIPRD), said Nigeria could attain drug security by increasing local production to 50 per cent.
Sampath, also a Special Advisor to Dr Akinwumi Adesina, President, African Development Bank (AFDB), on Pharmaceuticals and Health Infrastructure, said Nigeria should leverage the African Pharmaceutical Technology Foundation (APTF), established by AFDB.
According to her, APTF is built on some key learnings of how successful pharmaceutical sectors and companies can be supported.
“Pharmaceutical and trusting industries are vital components of the country’s health care system and economy, contributing significantly to health security and economic development.
“The Nigeria pharmaceutical industry is expected to rise in manufacturing by 2034, if not earlier, but this cannot happen without leverage of industries.
“We have seen the first-hand impact of lack of domestic transparency during COVID-19, given that with efforts, just as Nigeria has recently, in a highly competitively global environment.
“To accelerate the access of African countries to new technologies, processes, platforms and support local pharmaceutical companies to meet WHO standards, the AFDB established the African Pharmaceutical Technology Foundation,” she said.(NAN)
