The Board of Fellows of the Pharmaceutical Society of Nigeria, BOF-PSN has stressed the need for the formulation of national policy framework for the development of drug, health security, economic, and others.
The group urged all pharmacists and Fellows of the PSN to rise to the occasion by playing their key roles in nation building, especially during such critical period of pandemic.
Chairman, BOF-PSN, Prof. (Mrs) Mbang N. Femi- Oyewo made this remarks at the 2nd Public Lecture organised virtually by the body recently.
She said: “As a profession, we play a key role in the economy of Nigeria. The pharmaceutical industry and indeed pharmacists contribute to the country’s revenue through our products and services to the entire healthcare sector.
“Policy framework that will ensure development of drug/health security, economic and others must be in place. As Fellows and elders of the profession, it is therefore important to understand our roles and consciously take up the responsibility.
” I welcome everyone and wish you all an insightful lecture as we formulate/identify solid policy framework for the development of our great nation amidst current global challenges and even future challenges”, Femi-Oyewo stated.
Speaking on the theme of the public lecture: “Policy Framework for National Development Amidst Current Global Challenges: Whither Nigeria? the guest speaker, Dr Ayodele Teriba, CEO, Economic Associates Lagos, recommended that Nigeria must reorder economic policy priorities to experience growth.
The international scholar and multiple award winner further stated that in order to restore growth and stability to the economy, which has hitherto being nosediving, Nigeria must ensure adequate internal and external liquidity.
He sub-divided the theme into four parts namely: Global Realities- COVID-19 pandemic intensifies the twin-gluts; National Realities- It is high time we changed the narratives; Policy Challenges: liquidity-growth-stability nexus- getting the level of liquidity ‘right’; and Liquidity Tailwinds- global and domestic silver linings.
Teriba identified the lack of pharmaceutical remedy as a major casualty of COVID-19, which made the world reverted to non-pharmaceutical remedy like the use of facemask and other personal protective equipment to flatten the curve.
Going further, he advised those at the helms of affairs to identify national assets that could be invested in, such as people, landed properties, Diaspora connections, attraction of foreign investors, and others that will enhance economic growth.
“Nigeria should look at assets development, because we are very rich in assets, but we are neglecting them.If we recognise Diaspora as an asset class, we should invest in them, because global liberalisation is a megawave which we can’t resist” he quipped.
Earlier in his welcome address, Chairman, BOF-PSN 2020 Mid-Year Meeting Planning Committee, Pharm. Lekan Asuni explained the essence of the public lecture, saying it provides BOF an avenue to discuss and contribute to contemporary issues of national interest.
He said: “This annual event provides the Board of Fellows of the Pharmaceutical Society of Nigeria an opportunity to shape and contribute to discuss on contemporary issues of national interest.
“The current pandemic situation has significantly impacted several sectors of the economy including our everyday life. Therefore, we have carefully chosen the theme of this year’s lecture, which is, :Policy Framework for National Development Amidst Current Global Challenges: Whither Nigeria?”.
“The planning started in late 2019 and the initial plan was to have in-person attendance in Awka, Anambra State. But here we are, it is virtually aligned to the new normal and the first of its kind in the series of the Board’s Annual Public Lecture”.
Some of the dignitaries in attendance at the virtual meeting were : PSN President, Pharm. (Mazi) Sam Ohuabunwa; Chairman of Anambra State Traditional Council and Trustee, National Traditional Rulers’ Council, His Royal Majesty, Nnaemeka Alfred Ugochukwu Achebe, Obi of Onitsha; NAFDAC Director General, Prof. Moji Adeyeye; Pharm. (Sir) Ifeanyi Atueyi, publisher, Pharmanews; Distinguished Prof. Cecilia Igwilo; Vice-Chancellor, Chrisland University, Abeokuta, Prof. Chinedum Babalola; Pharm. Bruno Nwanko, former PCN chairman, to mention a few.