Over 80% of drugs in Nigerian Market are Imported – PSN

Pharmacists Abiodun Ajibade, Chairman Oyo state Branch of Pharmaceutical Society of Nigeria flanked by immediate past chairman and another key member of the Association

Government  at all level have been urge to engage in active partnership with local pharmaceutical companies in  Nigeria so as to reduce the over dependent of foreign drugs and develop economy

Oyo state  Chairman   of Pharmaceutical Society of Nigeria Pharm. Abiodun Ajibade  gave this advise while  briefing journalist on activities lined up to mark 2017 pharmaceutical week in Ibadan

Ajibade noted that over 80 percent of drugs in Market are imported  with very low capacity utilization  of the local pharmaceutical  manufacturing industry , adding that “The ugly experience  is a major task that must be reversed if Nigeria must take responsibility for its economic growth and recovery”

“ We cannot continue  to export our funds all in the name of  procuring  medicines from abroad and expect the same money to  money to cause local revolution.’

“ The various tiers of government spend heavily on drugs  provision  and out of pocket spending  on drugs  by average  Nigerians  is not a small amount, if our drugs are locally source, we  can imagine great fortune awaiting us”

While suggesting the way out, Ajibade said  “ with a structured partnership with the government for a pharmaceutical  industrial farms where provision of electricity low  tax regim, support for equipment  procurement and leasing incentives for locally made pharmaceuticals, the much awaited paradigm shift is possible ”

He said further that  foreign donors should be encourage to purchase drugs locally instead of bringing their drugs from other country

“ Taking steps to encourage local production of our drugs will not only reduces the heavily dependence on forex but also  increase employment  generations ; open up the verse need  areas which other sectors could take advantage of.”

While speaking on the program outline for pharmaceutical week 2017 in Oyo state, Ajibade  said  the week have been planned to offer a  workable approach to enhance  our National Economic  recovery  through pharmaceutical industry.