NAFDAC Reports 12% Increase in Local Pharmaceutical Manufacturing as Global Companies Exit Nigeria

The National Agency for Food and Drug Administration and Control (NAFDAC) has reported a 12% increase in local pharmaceutical manufacturing in Nigeria.

This news comes as global pharmaceutical companies are exiting the Nigerian market.

NAFDAC Director-General, Mojisola Adeyeye, stated that the increase in local manufacturing is a sign of progress for Nigeria, although the local companies are not replacing the global giants that are leaving the country.

The agency has approved 105 applications for the construction and erection of drug manufacturing facilities that meet the Good Manufacturing Practice (GMP) guidelines of the World Health Organization (WHO) and NAFDAC’s GMP for Medicinal Products Regulations 2021.

Despite the challenges of over-dependence on food importation and a weak operating environment, Nigeria’s pharmaceutical market is projected to grow by a CAGR of 10.2% in local currency terms and 5.7% in US dollar terms, reaching NGN3.1 trillion (USD5.7 billion) by 2030.

The increase in local production of pharmaceutical products in Nigeria will support market growth over the forecast period.

However, Nigeria’s weak operating environment, which contradicts its rationale for the ‘Five Plus Five-Year Validity (Migration to Local Production)’ policy, may hinder the country’s ability to achieve a reliable, high-capacity pharmaceutical sector.

In conclusion, the 12% increase in local pharmaceutical manufacturing in Nigeria is a positive development for the country’s pharmaceutical industry, and it is a sign of progress as global companies exit the market.

Share this news

Subscribe to the Advocate News letter and receive news updates daily in your inbox.

Check Also

Nigeria Faces 73.3% Blood Shortage Annually, Haima Health Initiative Reveals

Nigeria faces a significant shortfall of about 73.3% in its annual blood supply, according to …

Leave a Reply

Your email address will not be published. Required fields are marked *