Nigeria partners US Pharmacopeial Convention for 70% local drug production, 30,000 jobs by 2030

Date:

August 6, 2024.

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Azonuchechi Chukwu.

Nigeria is set to significantly boost its local drug production as part of a new partnership between the Presidential Initiative for Unlocking the Healthcare Value Chain and the US Pharmacopeial Convention (USP).

Minister of Health and Social Welfare, Muhammad Pate, announced this development in a post on X on Monday, August 5th.

This agreement aims to enhance local drug production and regulatory oversight, with a target of achieving 70% local production and creating 30,000 new jobs by 2030.

The partnership seeks to establish a centralized facility for bioequivalence studies and advanced analytical laboratory services. This facility will ensure the quality of locally produced pharmaceuticals by leveraging USP’s global expertise, thereby boosting local manufacturing capabilities.

“The collaboration will enable the local production of complex formulations and enhance regulatory oversight capabilities through the National Agency for Food and Drug Administration and Control (NAFDAC). This aligns perfectly with the Nigeria Health Sector Renewal Investment Initiative (NHSRII) and the Renewed Hope Agenda,” said Muhammad Pate.

One of the core objectives of the MOU is to develop active pharmaceutical ingredients (APIs) and pharmaceutical-grade excipients. (www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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