The Association of Industrial Pharmacists of Nigeria (NAIP) has called on the Federal Government to support pharmaceutical investors as they struggle with rising production costs, forex instability, and high fuel prices.
Speaking at the 2025 Economic Outlook & CEO’s Forum in Ikeja, the association’s National Chairman, Ken Onuegbu, highlighted the severe economic uncertainties facing the industry, describing it as one of the hardest-hit sectors.
He lamented the skyrocketing cost of clearing pharmaceutical products at ports, unreliable power supply, and worsening security conditions, which have made production and distribution increasingly difficult.
Despite these challenges, experts at the event, including former BPE DG Alex Ayoola Okoh, emphasized that the exit of multinational pharmaceutical companies from Nigeria presents opportunities for local investors to expand their market share.
The forum also called for stronger government policies to stabilize the industry and enhance local pharmaceutical manufacturing.
