Published On: Fri, Nov 11th, 2016

Nigeria to mitigate FX challenges of local drug producers

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Manufacturing industries in Nigeria have been given access to $660 million within the inter-bank market to supply raw materials and spare parts for their industries to ease the fx stress on manufacturing and agricultural companies. Consequently, the federal authorities says it will give preference to local manufacturers of important pharmaceutical medicines to ensure affordability and accessibility to health care services.

The Vice President, Professor Yomi Osinbajo, gave the reassurance on Tuesday on the opening of the 89th Pharmaceutical Society of Nigeria (PSN) held in Minna, stated the need to resist counterfeit and sub-standard drugs while ensuring patronage of Nigerians.

He said that the federal government was not unaware of the challenges confronting businesses, however he assured that efforts are on to take away the limitations and guarantee the variability of products.

Represented by the Minister of Health, Professor Issac Adewole, who emphasised the important roles performed by the Pharmacists in Nigeria, taking cognisance of our members as he applauded them of their selfless service to the health industry both in the private and non-private sector.

He also stated that the federal government was ensuring steady and sustainable growth in the industry and to scale back the dependence on oil and shift consideration to other sectors of the economy.

The Niger State Governor, Abubakar Bello, in his speech called for higher priority to be given to quality, affordability, accessibility of healthcare in Nigeria and improve funding to ensure provision of health services and providers.

The Governor was represented by the Niger State Speaker of the State assembly, Honourable Ahmed Marafa. He said the state will associate with the PSN to make sure healthcare services is affordable within the state. He also urged them to accentuate efforts in curbing sub-standard pharmaceutical products.

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Nigeria to mitigate FX challenges of local drug producers