Essential drugs will soon be scarce in Nigeria – Industrial Pharmacists warn
The Association of Industrial Pharmacists of Nigeria (NAIP) has issued a warning regarding the potential scarcity of essential medications across the country, citing the current economic downturn as the primary cause.
Addressing attendees at the 5th Annual International Conference of the Nigerian Association of Foreign Trained Pharmacists, held at Sheraton Hotel, Ikeja, Lagos State, the Chairman of NAIP, Kenneth
Onuegbu expressed deep concern about the adverse effects of the current economic situation on medication production and importation in the nation.
Mr. Kenneth Onuegbu said pharmaceutical companies may find it increasingly challenging to provide vital medications unless the government takes proactive measures to tackle two critical issues the exorbitant cost of diesel and the shortage of foreign exchange.
Mr. Onuegbu, while outlining the key challenges faced by the pharmaceutical sector, implored the federal government to intervene and create a conducive environment for producers.
The Nigerian pharmaceutical industry has been facing a myriad of challenges of which forex scarcity and the attendant depreciation of the naira stand tall.
The Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye confirmed that the depreciation of the naira is primarily responsible for the rise in drug prices across the country.
The exit of industry giant GSK Nig can also be attributed to the volatility of the foreign exchange market.