NAFDAC Invests Over N6 Billion to Boost Nigeria’s Pharma Exports


The National Agency for Food and Drug Administration and Control (NAFDAC) has invested over N6 billion from internally generated revenue over the past eight years to develop infrastructure aimed at facilitating global trade for Nigeria’s pharmaceutical products, according to NAFDAC’s director, Mojisola Adeyeye.

Thank you for reading this post, don't forget to subscribe!

As part of a major restructuring to enhance its operations, NAFDAC has used these funds to expand its laboratory capacities across the country. This initiative aims to achieve the World Health Organization’s Maturity Level 4 (ML4) and World Listed Authority Status by 2025, Adeyeye stated at BusinessDay’s policy intervention series focused on NAFDAC’s role in economic development and transformation.

Improving global ratings for Nigerian medical products is expected to enhance their competitiveness in international markets, building trust among global organizations and encouraging them to procure these products.

Adeyeye highlighted the increased procurement by UNICEF as an example. In 2023, UNICEF used about 600,000 cartons of locally manufactured ready-to-use therapeutic food inspected by NAFDAC, up from less than 100,000 cartons in 2018.

“Achieving world-based authority status means that medical products we approve can be traded globally, which significantly contributes to economic development,” Adeyeye emphasized.

Over 20 newly registered local drug manufacturers have established WHO-compliant facilities to produce essential medicines, marking a 12% increase in active local FPP manufacturers. As of February 2024, 143 applications for regulatory review and approval of new pharmaceutical facilities were received, with 73% approved for construction. However, due to naira devaluation, only 35% of the 105 approved have completed construction and are at various stages of registration.

Adeyeye also detailed ongoing efforts to improve business operations and meet global benchmarks, including eight new building projects in various states and a total of 26 projects, with some completed and others in progress.

NAFDAC is enhancing its Information Communication Technology (ICT) infrastructure, digitalizing regulatory processes, and procuring over 140 vehicles for regulatory inspection. Leadership and workforce structures within the agency have also been reorganized to streamline operations and improve efficiency.

Plans are in place to establish NAFDAC desk offices across all 774 local government areas to further ease business operations.

Frank Aigbogun, Publisher of BusinessDay, welcomed Adeyeye and other guests, describing the event as a catalyst for the agency’s development.

Godwin Okafor, The Naija247news
Godwin Okafor, The Naija247news
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:



More like this

Patoranking celebrated as he becomes UNDP Regional Goodwill Ambassador for Africa

July 12, 2024. Azonuchechi Chukwu. Nigerian singer Patrick Nnaemeka Okorie, better...

Davido Launches Own Social Media Platform

July 12, 2024. Azonuchechi Chukwu. Nigerian musician David Adeleke, well known...

ECOWAS Single Currency Will Facilitate Free Trade -Uwaleke

July 12, 2024. Azonuchechi Chukwu. The President of Capital Market Academics...

ENDSARS: DJ Switch reacts to ECOWAS court judgment

July 12, 2024. Azonuchechi Chukwu. Activist DJ Switch has revealed that...
× How can I help you?