Fidson Healthcare Plc has unveiled an ambitious plan to invest $50 million over the next three years, leveraging equity and debt financing to drive both domestic scale and international expansion in pharmaceuticals.
Outgoing Managing Director and Chief Executive Officer, Dr. Fidelis Ayebae, revealed the strategic move during an exclusive interview with Nairametrics, highlighting the shifting landscape of Nigeria’s pharmaceutical sector.
According to Ayebae, the investment will support capacity expansion, global competitiveness, and supply chain efficiency as Fidson prepares to penetrate new markets beyond Nigeria.
“Fidson is investing $50 million in the next three years,” Ayebae stated. “I am now retiring to ensure that we raise the necessary funds through equity and debt to fund that and make it happen, because we have faith in the economy.”
Self-sufficiency in Nigeria’s pharmaceutical industry
The revelation comes amid a broader push for self-sufficiency in Nigeria’s pharmaceutical industry.
The Federal Government, through its Special Adviser on Health, Dr. Salma Anas-Kolo, has urged local manufacturers to meet up to 70% of national medicine consumption, a goal that Ayebae and other stakeholders have embraced.
“Before she came in, we were at about 30%, 40%, but now we are approaching 50% to 60%. Each of us is expanding our operations,” Ayebae noted, adding that no fewer than 10 companies are currently increasing production capacity in response to the government’s call.
Ayebae praised the President Bola Tinubu administration for implementing presidential orders that removed duties on raw and packaging materials for two years—a policy he described as “very helpful” in stimulating local manufacturing.
Industry Recognition at Fidson Distributors Awards 2025
The expansion revelation was made at the Fidson Distributors Awards 2025, held to honor top-performing pharmaceutical distributors across Nigeria.
- Nwachukwu John of Nwachukwu Pharmaceuticals won Best Distributor National and also took home the award for the East Division.
- Oliver Anyadiegwu, CEO of Zimaco Pharm Ltd, was named Best Distributor for Lagos Division.
- Pharm Abiola Adekunle of Kunle Ara Pharm claimed Best Distributor for West Division.
- Alhaji Sayyidi Atana of Latnas Pharmaceuticals won the North Division award.
These honors reflect Fidson’s commitment to deepening its distribution network, encouraging growth across Nigeria’s regions while positioning for international scaling.
What You Should Know
The company reported a pre-tax profit of N4.8 billion for the first quarter ended 31st March 2025.
- This reflects a year-on-year growth of 213.49% compared to the N1.5 billion reported in the same period of 2024, driven primarily by a significant increase in revenue.
- The company posted a total revenue of N35 billion for the quarter, representing an 85.42% surge from N18.8 billion recorded in Q1 of the previous year.
- A breakdown of revenue sources reveals that ethical product sales contributed the largest share, totaling N22.9 billion. This was followed by over-the-counter (OTC) product sales, which stood at N10.04 billion.
On the cost side, Fidson experienced a notable rise in its cost of sales, which climbed to N22.4 billion—an increase of 100.23% from N11.2 billion in Q1 2024.
With a robust expansion strategy, government support, and continued investment in stakeholder development, Fidson Healthcare is expected to play a leading role in shaping Nigeria’s pharmaceutical future, and potentially the global stage.
