Pharmacists under the Association of Industrial Pharmacists of Nigeria have raised concerns about the crippling foreign exchange shortage and its severe impacts on pharmaceutical companies and the availability of medicines in the country.
The pharmacists lamented that the lack of access to forex has severely disrupted the operations of industrial pharmacists, with many registered pharmaceutical firms unable to import drugs and essential raw and packaging materials needed for local medicine production.
They warned that if urgent measures are not taken to provide forex to genuine registered pharmaceutical firms, there could be a significant increase in the prevalence of fake drugs in Nigeria.
The industrial pharmacists called on the Federal Government to support local drug companies by creating an enabling environment for pharmaceutical business operations to ensure the availability of genuine drugs for Nigerians.
In an exclusive interview with Sunday PUNCH ahead of the 27th Annual National Conference of Industrial Pharmacists in Ibadan, Oyo State, from June 4, National Chairman of the pharmacy group, Ken Onuegbu, emphasised the need for special attention and concessions for the pharmaceutical industry to enhance the availability of affordable medicines.
He said, “Forex scarcity is a major issue for the pharmaceutical industry. The Federal Government must address it. Many companies are struggling. The operating environment is also harsh, with companies spending millions monthly on diesel to power their factories. Additionally, numerous levies on pharmaceutical raw materials contribute to the high cost of drugs.
“The government must improve the ease of doing business for the pharmaceutical sector. If action is not taken urgently, the prices of genuine drugs will rise further, and the market will be flooded with fake drugs,” he added.
Onuegbu noted that the upcoming conference, themed “The Role of Digital Technology and Innovations in Achieving Universal Health Coverage: The Nigerian Industrial Pharmacy Perspective,” would focus on leveraging technology to improve drug availability and healthcare delivery.
Chairman of the Conference Planning Committee, Valentine Okelu, also said it would discuss leveraging technology to enhance drug procurement, distribution, and manufacturing, which is crucial for achieving universal health coverage.