Abegan Bambe, Kwara State chairman of Association of Industrial Pharmacists of Nigeria (NAIP), has stressed the need for the government to facilitate investments in the pharmaceutical sector to enable it to thrive and drive the economy.
Bambe stated this while delivering his speech entitled ‘Creating an Enabling Environment with Modern Technology for Pharma Industrial Revolution in Nigeria’ at the 5th Annual NAIP Day held in Ilorin, the state capital.
He said the biggest challenge now is for the industry to align with technology.
“Technological advancement had become increasingly critical for firms, including pharmaceutical campaniles, in order to achieve competitive advantage and contribute its quota to the national economy,” he said.
“With digital transformation, doctors and pharmacists now have the ability to see how their patients are doing with their sugar levels. In Nigeria, it is slow and in most parts has been missing out. We need to take the technological breakthrough in developed societies where technological tools are employed,” he added.
Bambe pointed out that the advent of high tech machines and its application would increase output and improve quality management system of the entire facility, while reducing development costs.
“Creating an enabling environment with modern technologies requires money. Funding is key in meeting the demand posed by the dynamics in the industry,” he explained.
He said that absence of stable electricity has forced manufacturing companies into spending huge sums of money in alternative sources of power, adding that poor access to low interest is another major constraint being encountered by operators in the pharma industry.
“Nigeria pharma industries depend largely on pharma technologically advanced nations like China, India for her API’s and excipient. There need for investment in this area.”
Abiodun Shittu, a professor at the University of Ilorin, in his submission, recommended creation of incentives to encourage partnership between public research institutes/universities and the private sector for the purpose of attracting private sector investment into biotechnology based start-up firms.
He also called for tax waivers on research materials and equipment while encouraging specialised technological financing agencies to provide loans to firms and research institutions.
Ahmed Gana, who represented the national chairman of association, Ignatius Anukwu, said that 70 percent of drugs used in Nigeria are imported and 90 percent of materials used for drugs produced in Nigeria are imported from other countries.
SIKIRAT SHEHU
