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President calls for increased investment in pharmaceuticals
Thu, 19 Jun 2008 11:55
TradeInvestNigeria Staff


President Umaru Musa Yar'Adua has stated that for Nigeria to attain self sufficiency in drug production, generate employment and achieve vision 2020, indigenous pharmaceutical firms must expand their manufacturing capacity.

According to Yar'Adua indigenous drug manufacturers must not only ensure that 70% of the country's drug needs are met locally but that the drugs produced meet international standards.

He noted that increased participation of Nigerian companies in the pharmaceutical sector hitherto dominated by multinationals was a positive development and a clear indication of the country's drive towards industrialisation.

He added that the federal government's policy of placing essential drugs on the Import Prohibition List was to discourage importation of essential drugs, curtail importation of substandard drugs and stimulate local production in the sector.

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