Nigeria is taking decisive steps to end its decades-long dependence on imported medicines as government officials, pharmaceutical executives, and private investors rally behind a national agenda to localise drug manufacturing and secure its healthcare future.
The urgent call came during the 2025 Nigeria Pharmaceutical Industry Growth and Investment Summit held on 22 May in Lagos, where experts warned that Nigeria’s overreliance on foreign pharmaceuticals—currently estimated at 70 per cent of national consumption—poses a growing threat to public health and economic stability.
Ayodeji Alaran, Chief Executive Officer of PBR Life Sciences, the summit’s convener, described the situation as “no longer tenable,” especially with Nigeria’s population expected to exceed 377 million by 2050. “Our healthcare system is vulnerable to currency fluctuations, global supply chain disruptions, and rising costs,” he said. “The solution is to invest boldly in local production.”
The summit brought together leading figures from across the healthcare ecosystem, including representatives of development finance institutions, venture capital firms, and key government agencies. They outlined a comprehensive strategy to revitalise Nigeria’s pharmaceutical sector by boosting domestic production, encouraging public-private partnerships, and mobilising long-term financing.
Dr. Abdu Mukhtar, National Coordinator of the Presidential Initiative for Unlocking the Pharmaceutical Value Chain (PVAC), stated that Nigeria’s life sciences sector, currently valued at $46 billion, has the potential to more than double by 2030.
“We aim to increase the share of locally produced pharmaceuticals, vaccines, and medical devices to at least 70 per cent within the next five years,” Mukhtar said.
In support of this goal, the federal government has introduced sweeping reforms under the Health Sector Investment Renewal Strategy. These include a presidential executive order eliminating import duties and VAT on manufacturing inputs, and the creation of Medipool, a national procurement platform aimed at improving purchasing power for local producers.
Despite these efforts, many speakers noted that transforming the sector will require more than policy changes. Chimezie Anyakora, CEO of Bloom Public Health, emphasised the importance of building a complete pharmaceutical ecosystem, including packaging, laboratory services, and regulatory infrastructure. “Over 200 pharmaceutical companies operate in Nigeria, yet most still depend on foreign technical support,” he said. “This must change.”
He proposed the establishment of pharmaceutical parks to concentrate resources, cut production costs by up to 35 per cent, and encourage innovation through shared services and infrastructure.
Private sector stakeholders also called for improved access to finance. “Pharma manufacturing is capital-intensive with long product cycles,” said Dennis Aizobu, Managing Director of SFH Access. “We need blended finance, risk-sharing tools, and patient capital to make this sector viable.”
Sammy Ogunjimi, CEO of Codix Group, warned that continued neglect of local pharmaceutical manufacturing was a national security risk.
“We cannot keep waiting for foreign investors to solve our problems. We must invest in ourselves.”
There was consensus that the time for action is now. “This is not just about the health sector,” said Mukhtar. “It is about creating jobs, diversifying the economy, and safeguarding the future of over 230 million Nigerians.”
