A Nigerian pharmaceutical company, ST. RACHEAL’S Pharma, has urged President Bola Tinubu to ensure the return of all pharmaceutical firms that had left Nigeria because of economic challenges.
The Chairman of the firm, Mr Akinjide Adeosun, made the appeal on Saturday in Lagos at the commemoration of the company’s 7th anniversary.
Adeosun urged Tinubu to redouble efforts at tackling the rising cost of drugs and brain drain to improve the health conditions of Nigerians, especially the indigent.
According to him, the President should declare a state of emergency on health with a singular compelling objective to save lives of Nigerians experiencing excruciating economic hardship.
He listed healthcare areas that needed emergency attention to include hard and soft infrastructures.
“There is the need for an urgent engagement of exited pharmaceutical companies to bring back investment in Research and Development (R&D) to accelerate the renewed hope of manufacturing renaissance.
“The Minister of Trade and Investment is implored to champion this initiative.
“Part of the negotiation can include partnership with local manufacturers to position Nigeria as a hub strategically to harness export to African countries,” he said.
Adeosun also called for an urgent removal of import duty and levy on critical pharmaceutical products with inadequate local manufacturing capacity like antibiotics; antihypertensive and antidiabetics.
“This initiative will help to reduce cost of drugs in Nigeria,” the pharmacist said.
Speaking on soft infrastructure as the also need attention, Adeosun noted that there was a current dearth of state of the art medical education provided by the multinational pharmaceutical companies that left Nigeria.
“A revival of their interest in Nigeria will rekindle investment in human capacity of the health care practitioners, at par with their colleagues globally.
“To address the dwindling man power as a result of brain drain, admission numbers should be significantly increased in the schools of medicine and pharmacy across the country.
“An enabling working environment should be provided to attract Nigerians in the diaspora and other African healthcare professionals to practice in Nigeria,” the expert added.
Adeosun, however, commended the removal of import duty and Value Added Tax on active pharmaceutical ingredients by the President.
“This will go a long way – long term- to switch the current ratio of 60 per cent:40 per cent imported drugs versus locally produced drugs to 40 per cent:60 per cent imported versus locally produced drugs,” he said.
Making further case for the poor, the pharmacist urged the Federal Government to do everything possible to lessen the health burden of the vulnerable.
“While we support the various non-health palliatives being provided in the country, it is our considered opinion that enrolling indigent patients in health insurance (paid by government at the national and sub-national levels) in all parts of the country.
“This will impact positively on the people’s health thereby improving life expectancy in Nigeria,” he said.
According to him, since launch on March 29, 2018, ST.RACHEAL’S Pharma has excelled in the art of core commercial remits and in the process, delighting customers through the provision of value-added services of leadership, finance, customer care, distribution and technology.
He said that the Akinjide Adeosun Foundation (AAF), the non-profit organisation of ST.RACHEAL’S
Pharma, has executed free medical mission and free leadership education in Nigeria, in resonance with the United Nations (UN) Sustainable Development Goals.
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