Pharmacists across Nigeria have urged the Federal Government to allocate pharmaceutical intervention funds to manufacturers in order to enhance local production of drugs.
This call was made by industry experts who emphasized the importance of such funds in increasing production capacity and ensuring the availability of essential medicines in the country.
The intervention funds
Stakeholders, represented by the Federation of Nigerian Pharmaceutical Industry Associations (FeNPIA), have proposed the establishment of a N600 billion Pharmaceutical Manufacturing Development Fund.
- This fund, with an interest rate set at five per cent over a minimum tenure of seven to ten years, aims to support local production of Active Pharmaceutical Ingredients (APIs), vaccines, critical supply chain interventions, and Research & Development (R&D) efforts.
- Wale Oladigbolu, the National Chairman of the Association of Community Pharmacists of Nigeria (ACPN), stressed the necessity of a long-term intervention to significantly scale up drug production.
- He emphasized that the funds should be accessible to both manufacturers and retailers, with a focus on converting edible starch to pharmaceutical starch to meet local demand.
“The government needs to put investment down for the pharmaceutical industry and support manufacturers that are able to convert our edible starch to pharmaceuticals starch,” Oladigbolu stated, highlighting the critical role of such interventions in transforming drug production in Nigeria.
Furthermore, Oladigbolu emphasized the importance of effective health insurance coverage in reducing the financial burden of healthcare for Nigerians.
He noted that a well-functioning health insurance system would alleviate the high costs of medicines and ensure equitable access to healthcare services for all citizens.
Echoing these sentiments, Lawrence Ekhator, the Immediate Past Chairman of ACPN Lagos Chapter, underscored the significance of the proposed intervention fund in enhancing the pharmaceutical industry.
- He highlighted the need to address challenges such as insufficient energy supply and high import duties, which impact local drug production.
“The pharmaceutical industry needs a long time fund at a good interest rate to enable local manufacturers increase their output,” Ekhator emphasized, emphasizing the urgent need for government intervention to address these issues and facilitate the growth of the pharmaceutical sector.