Nigeria loses N1tr yearly importing active — Features — The Guardian Nigeria News – Nigeria and World News

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Despite the capacity to locally produce Active Pharmaceutical Ingredients (APIs) and boost indigenous production of drugs, successive administrations have turned a blind eye to developing the pharmaceutical sector to provide medical security for the country. But with the naira-to-dollar free-fall getting into the way of importation and political concerns on global reliance on China and India for API supplies, stakeholders said Nigeria must look inwards before it is too late, CHUKWUMA MUANYA reports.

The ‘resource curse’ theory is self-evident in the local pharmaceutical industry. For each of the drugs imported into the country is at least 50 per cent of potential active ingredients idling somewhere close-by – untapped.

But the alternative to importing drugs or APIs (for local manufacturing) comes at a huge cost that is now too heavy for the affordability of Nigerians and Nigeria. Available data shows that Nigeria loses more than $1 billion…



Source: Guardian Newspaper