Stakeholders in the pharmaceutical sector have expressed doubts over the country’s ability to achieve its target of increasing local manufacturing of pharmaceutical products in Nigeria to at least 70% of locally consumed pharmaceuticals and vaccines by 2030.
The stakeholders noted that inadequate infrastructure, unstable power supply, forex access and volatility, and heavy dependence on imported raw materials, like Active Pharmaceutical Ingredients, continue to hinder local drug manufacturing.
They added that despite policies, tax waivers, and other initiatives from the Federal Government to boost domestic production, the sector still lacks the level of investment, policy implementation, and support required to scale up capacity within the projected timeframe.
In June 2024, President Bola Tinubu signed an executive order to introduce zero tariffs, excise duties, and value-added tax on imported pharmaceutical products and inputs.
The Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, who disclosed this, noted that the Executive Order also aims to increase local production of healthcare products.
