The Group Managing Director of First Bank of Nigeria (FBN) Holdings Limited, Mr Wale Oyedeji, has called for urgent innovation, collaboration, and investment in Nigeria’s healthcare sector to reduce the country’s growing disease burden and mitigate its economic impact.
Oyedeji said Nigeria continues to experience significant setbacks from preventable diseases such as malaria and tuberculosis, which have drained both public health and the economy for decades.
“Nigeria loses an estimated N132 billion annually to malaria and about 200,000 lives to the disease each year. These figures should not just concern us; they should compel action,” he stated.
Speaking at the Investiture and Conferment of Lifetime Achievement Awards organised by the Nigeria Academy of Pharmacy (NAPHARM) in Lagos, Oyedeji lamented that despite global medical progress, Nigeria’s healthcare system remains constrained by poor access to quality services, weak research capacity, and a fragile pharmaceutical industry.
He called for a deliberate national effort to develop local pharmaceutical manufacturing, strengthen research and development, and adopt modern technologies in diagnostics and treatment.
“We need intentional action. Collaboration between government, academia, and industry is not just desirable; it is the only way forward,” he said.
“Healthcare and pharmaceutical innovation must become national priorities if we are to improve outcomes and build resilience.” President of NAPHARM, Prof. Lere Baale, said the future of healthcare rests on innovation, with pharmacy at the centre of that transformation. “Our Academy is committed to transforming pharmaceutical science into national impact, translating knowledge into innovation, and innovation into wellbeing,” Baale said.
He outlined NAPHARM’s six strategic pillars: advocacy, research promotion, mentorship, ethics, health systems strengthening, and public engagement. He also identified digital health, artificial intelligence, biotechnology, and local manufacturing as focus areas essential for achieving Nigeria’s medicine security.
“We foresee a world where Artificial Intelligence and genomics accelerate discovery and optimise therapy. Telepharmacy and e-health can extend care to the underserved. This is the future we must prepare for,” he added.
In his goodwill message, President of the Pharmaceutical Society of Nigeria (PSN), Tanko Ayuba, commended NAPHARM for its growing influence and pledged PSN’s continued partnership in advancing pharmaceutical excellence nationwide.
A highlight of the event was the presentation of the Lifetime Achievement Award to the Chairman of Bond Group of Companies, Adebowale Omotosho, in recognition of his decades-long contribution to the growth of Nigeria’s pharmaceutical and healthcare sectors.
Omotosho described the award as a humbling experience and a celebration of grace, service, and professional evolution.
“I see it as encouragement for the younger generationthat diligence, integrity, and service to humanity will always be rewarded,” he told The Guardian.
Reflecting on his career, Omotosho said his decision to establish Bond Chemist in 1976 marked a defining moment. What began as a modest venture, he explained, evolved into a thriving indigenous pharmaceutical enterprise committed to affordable healthcare and ethical practice.
“My guiding principles have always been integrity, hard work, humility, and faith in God,” he said. “Success is not measured only by wealth, but by impact, how many lives are touched, how many people are empowered, and how many doors are opened for others.”
He urged younger pharmacists to uphold the values of ethics, diligence, and service, noting that the future of the profession depends on the commitment and integrity of the next generation.
