The Minister of State for Health and Social Welfare, Dr. Tunji Alausa, clarified the reasons behind the exit of pharmaceutical companies from Nigeria during a World Cancer Day symposium. He highlighted that the main cause was the non-domestication of their products in the country, rather than difficulty in doing business as previously speculated.
Alausa emphasized that Nigeria is endowed with a large pool of manpower, which could significantly reduce operating costs for businesses. He noted that the pharmaceutical companies left due to the failure to domesticate their production as required by NAFDAC policies.
To address the situation and attract more investment, Alausa mentioned that the government is reviewing pharmaceutical laws to prevent similar occurrences in the future. He expressed confidence that Nigeria remains an attractive destination for investors, with a population of over 220 million people and abundant opportunities for manufacturing.
The minister assured Nigerians that the federal government is aware of the rising cost of pharmaceuticals and consumables in the country. He stated that President Bola Ahmed Tinubu is taking swift action to alleviate the situation, including issuing executive orders to support pharmaceutical companies and reduce prices for citizens in the short term.
Runcie Chidebe, the Executive Director of Project Pink Blue, underscored the importance of the symposium in light of the suffering experienced by patients. He advocated for the decentralization of cancer control in Nigeria to better address the needs of affected individuals across the country.