Overdependence on Imported Drugs Killing Nigerian Pharma Sector – Daily-Need Boss

0
419

A renowned industrialist has declared that the only way a nation can grow, particularly in this clime (Nigeria), is to completely stop being dependent on foreign goods.

In a recent interview with Pharmanews, Mr Oluwatosin Jolayemi, managing director, Daily-Need Industries described the Nigerian pharmaceutical industry as a growing market that is in dire need of policies that will help the industry to grow.

He was however quick to add that it also depends on the side of the industry we are looking at.

“Whether in the area of pharmaceuticals or pharma manufacturing, the only way a nation can grow, particularly in this clime, is to stop being dependent on foreign goods.

“And the easiest way to stop this is simple. Unless local capacity is exhausted, government should not allow importers to bring in products that could be produced locally,” he emphasized.

Mr Oluwatosin Jolayemi, managing director, Daily-Need Industries

To further drive home his point, the Daily-Need boss made an exemption to the rule by indicating that some drugs could be granted a waiver.

“However some products that we don’t have capacity to produce or cannot be manufactured in the country can be exempted pending the time we have investors in those areas.

“Until when the policies of NAFDAC, Federal Ministry of Health and the Nigerian government as a whole favour our manufacturing industries, we cannot begin to talk about growth. We are just going to be talking about traders and volumes growth which does not necessarily mean growth,” he opined.

READ  Nigerian Govt Recalls 2.4m Bottles of Cough Syrup Containing Codeine

Described as a pharmaceutical giant, Daily-Need Industries has been in operation since 1972 when it started out as Paulina Cosmetics. However its pharmaceutical section did not kick-off until 10 years later.

When asked to comment on the experience so far, Jolayemi grinned and took his time responding.

“You asked me earlier about the experience of running a pharma manufacturing company like ours. In truth, it is both sweet and sour. I believe that is essentially what life is all about. But take more of the sweet part and see how you can turn it into a sweet-and-sour sauce,” he teased.

It would be recalled that the management of Daily-Need Industries recently entered into a Memorandum of Understanding (MoU) with World Wide Commercial Ventures (WWCV).

At the official partnership signing ceremony, which held WWCV’s head office in Matori, Lagos, Jolayemi explained that the foremost pharmaceutical company felt the need to further create an in-route for smooth distribution of its products.

He disclosed that Daily-Need has taken a position that the only way to leverage, at least to a reasonable capacity, is to go into partnership with a logistics and distribution outfit that could give the company visibility, reach and a good market share.

LEAVE A REPLY