Sodiq Ojuroungbe Stakeholders in the pharmaceutical industry have warned that the persistent scarcity of essential drugs and subsequent price hikes will continue unless there is a significant boost in local production of medicines. They emphasised the need for collaboration between pharmaceutical manufacturers and the government to increase domestic manufacturing capacity. Speaking exclusively with PUNCH Healthwise, the pharmacists stressed that improved local drug production would help resolve current scarcity and hikes in prices of essential drugs in the country.
Kenneth Onuegbu The National Chairman of the Association of Industrial Pharmacists of Nigeria, Kenneth Onuegbu, noted that local drug production would not only promote drug and medicine security but also attract foreign direct investment and improve the economy. Onuegbu, however, stressed that the government must ease the process of doing business to encourage local investment in domestic drug production. Onuegbu cited foreign exchange scarcity as a major challenge facing the industry, with the current exchange rate making it difficult for importers to access forex.
“The rate of the currency is above N1000 now. The value of our naira now is extremely poor, and if you want to buy something from abroad, it’s over N1000, and by the time you do your costing here, who and who can afford it in the country?” he questioned. Onuegbu advocated for policies supporting local manufacturers, including reliable power supply.