The federal government has revealed that the departure of pharmaceutical companies from Nigeria stemmed from their failure to domesticate their products within the country. Dr. Tunji Alausa, the Minister of State for Health and Social Welfare, disclosed this information during a world cancer Day symposium organized by Project Pink Blue in Abuja on Monday. The symposium, themed “Economy, Tax and Cancer Control: The Exit of Pharmaceuticals from Nigeria,” provided a platform to discuss critical issues impacting the pharmaceutical industry in Nigeria.
Dispelling rumors that the companies left due to challenges in conducting business, Dr. Alausa emphasized that the actual reason was the non-domestication of their products. He highlighted the abundance of skilled manpower in Nigeria, which he believes is available at a reasonable cost compared to other nations. According to him, personnel costs constitute a significant portion of operating expenses in advanced democratic nations, a resource Nigeria possesses in abundance.
Dr. Alausa pointed out that pharmaceutical companies exited because of Nigeria’s pharmaceutical laws, particularly the NAFDAC policy of 5+5, which mandates companies to domesticate their production after marketing drugs for five years. However, some companies continued to market their products for decades without domesticating their production. The government is now reviewing pharmaceutical laws to prevent similar situations in the future.
Despite the exit of some companies, Dr. Alausa expressed optimism about Nigeria’s investment potential, citing the country’s large population of 220 million as a significant consumer base. He also mentioned President Bola Ahmed Tinubu’s efforts to improve the ease of doing business in the country, which he believes will attract more investors. Dr. Alausa assured Nigerians that the government is working to encourage more companies to invest in the country and enhance domestic pharmaceutical production.
Regarding the rising cost of pharmaceuticals and consumables, Dr. Alausa assured Nigerians that the federal government is aware of the situation and will issue executive orders to address it. He acknowledged the pain felt by Nigerians due to high pharmaceutical prices and emphasized President Tinubu’s commitment to reducing these costs.
Runcie Chidebe, the Executive Director of Project Pink Blue, highlighted the symposium’s significance in addressing the suffering of patients. He called for decentralization of cancer control in Nigeria, stressing the need for collaboration among the private sector, government, and stakeholders to tackle the high cost of oncology medications.
Vanguard News