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Industrialists target five per cent GDP input by 2020


Industrial pharmacists under the aegis of the Association of Industrial Pharmacists in Nigeria (NAIP) have yesterday disclosed their plans to scale up the industry’s contribution to the country’s Gross Domestic Product (GDP) by five per cent come 2020.

The industrialists, who disclosed this in Lagos at a press briefing, noted that the current GDP contribution of the pharmaceutical industry has been modestly put at about 0.001 per cent and it’s not encouraging.

Therefore the target to hit five per cent GDP input in three years is set to achieve an increase in the country’s economic growth considering the state of the economy as well as boost employment.


The association which is set to hold its 20th Annual National Conference come April, 19 and 20 at Sheraton in Lagos said, as part of plans to achieve the set target, the gathering seeks to encourage the transition of most practitioners in the industry from outsourcing manufacturing overseas to local produce of pharmaceuticals.

“This transition could be the country’s pharma industry’s most significant contribution to inclusive economic growth, and wealth creation,” they said.

The conference’s theme, “Growing the Nigerian Pharmaceutical Industry for Greater Economic Impact,” according to the association was carefully chosen to reflect the inclusion of not only stakeholders from the pharmaceutical industry, but from other fields to chat a path way for the nation’s economic improvement.

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Gross Domestic Product
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