• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Covid-19: List of pharmaceutical firms that will receive grants from the CBN

Chike Olisah by Chike Olisah
March 21, 2020
in Business News, Politics, Spotlight
Banks' stakeholders express 4 main concerns bothering the sector right now, CBN, MARKET UPDATE: CBN’s historic agriculture lending; Is it yielding the desired results? 

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN).

Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria (CBN) and the Bankers Committee have announced a list of local pharmaceutical companies that will be engaged in their intervention programme in a bid to curtail the spread of the coronavirus disease. The companies will be given a grant to enable them to procure raw materials and equipment to boost local drug production in Nigeria.

This was disclosed by the CBN Governor, Godwin Emefiele on Saturday, March 21, during a press briefing in Abuja. In a press statement seen by Nairametrics, the Bankers’ Committee gave its full support to the policy measures amounting to over N3.5 Trillion earlier announced by the CBN in response to the economic impact of the COVID-19 on Nigeria.

The chosen ones: Some of the pharmaceutical companies listed by the CBN Governor are Fidson Healthcare Plc, May and Baker Plc, Neimeth International Plc, Unique Pharma, Swiss Pharma, Dana Pharma, Orange Drugs, Sagar, GSK, Emzor Pharmaceuticals. Mr Emefiele also mentioned that the list was not exhaustive as more companies could also benefit.

RelatedStories

CBN, MPC

CBN opens application for Knowledge Acceleration Programme to shape future research priorities 

July 13, 2025
CBN, forex

June 2025 PMI: CBN warns of inflation as input costs outpace output prices

July 8, 2025

According to Emefiele “the Bankers’ Committee took the decision to support the pharmaceutical companies given the fact that the present pandemic was of grave public health concern, coupled with the fact that many drug-manufacturing countries planned or had already banned the export of drugs and medical supplies from their respective countries, thereby leaving Nigeria no choice but to produce the drugs locally.”

READ MORE: RESCUE MISSION: CBN coordinates banks, other financial institutions, to raise N1.5 trillion for infrastructure

No profit motive: Emefiele also disclosed that engagements will be held with correspondent banks, trade creditors, trading partners regarding existing letters of credit and trade commitments. In a rather altruistic tone, the CBN Governor also said that profit would not be the primary motive at this time “rather, preserving confidence, financial stability and support for the economy will be the overriding objectives.”

In line with his drive for supporting locally made goods and services, the CBN Governor and the Bankers’ Committee advised Nigerians and companies to prioritize their import needs and focus more on sourcing raw materials and input locally.

Emefiele pointed out that in the course of the meeting, the Minister for Finance, Budget and National Planning, Zainab Ahmed, called and specifically requested that the CBN and the Bankers Committee pay particular attention to the health sector.

Ahmed assured of Federal Government’s intention from the fiscal side, to provide waivers and incentives to encourage the pharmaceutical industry to come back again alive in Nigeria.

 


Follow us for Breaking News and Market Intelligence.
Tags: Bankers CommitteeCBNCBN PoliciesCoronavirusCOVID-19 outbreakCOVID-19 PandemicNigerian Business News
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

CBN, MPC
Financial Services

CBN opens application for Knowledge Acceleration Programme to shape future research priorities 

July 13, 2025
CBN, forex
Economy

June 2025 PMI: CBN warns of inflation as input costs outpace output prices

July 8, 2025
CBN, forex
Financial Services

CBN clarifies NRBVN charges, says BVN enrolment remains free for Nigerians in Nigeria 

July 7, 2025
CBN, forex
Breaking News

Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex
Financial Services

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025
CBN, forex
Financial Services

Nigeria’s FDI drops by 19% to $250 million in Q1 2025 – CBN 

June 27, 2025
Next Post
Banks' stakeholders express 4 main concerns bothering the sector right now, CBN, MARKET UPDATE: CBN’s historic agriculture lending; Is it yielding the desired results? 

Official: CBN says N360/$1 not devaluation but "adjustment of price"

Comments 3

  1. Daniel Abdullahi says:
    March 24, 2020 at 8:07 am

    Sir,I don’t know if you’re aware of phamatex industries Limited who are frontliner of QUALITY products producing locally over 50 products.
    I wish you get this company on the list of pharmaceutical companies to be of us to our dear country.

    Best Regards.

    Reply
  2. Moses Degreat says:
    March 24, 2020 at 10:02 am

    Meanwhile my company set up molecular lab that can test for Covid-19 so if you have any government contacts in any state let’s talk, pls private chat me
    These guy can give the government the best

    Reply
  3. Dr Ururu says:
    May 30, 2020 at 8:11 am

    Agricultural loan have been kept on hold even when all the requirements have been meant CBN and BOA continue to delay farmers playing with seasons this year farming will soon be over the Authorities continue holding on to the money please those concerns should act to safe farmers

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Meta acquires AI voice startup Play AI to boost audio content innovation 
  • Bitcoin soars past $121K, smashing records with no end in sight
  • Akwa Ibom Govt. to shut down health facilities with unqualified staff, enforce stricter regulations 

Follow us on social media:

Recent News

Meta announces Llama impact grant for Sub-Saharan African Startups, researchers

Meta acquires AI voice startup Play AI to boost audio content innovation 

July 14, 2025
Bitcoin

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics