Amid exit of notable multinational pharmaceutical firms from Nigeria, the National Agency for Food and Drug Administration and Control (NAFDAC) has commissioned a new multi-billion naira pharmaceutical facility built by Artemis Laboratories Limited in Ota, Ogun State.

Indian Consul-General, Shri Chandramouli Kumar Kern, who spoke during the official launch of the new facility, expressed continued commitment of Indian manufacturers to invest in Nigeria despite the departure of notable pharmaceutical companies.

Kern emphasised the significance of the Nigerian market, saying that “Nigerian market is too big to be ignored by any sensible investor.”

He, however, acknowledged the challenges but also highlighted the potential the market holds.

He said that another set of Indian investors had received approval to invest $25 million in the Nigerian economy, underscoring India’s unwavering faith in Nigeria’s development.

In response to the inauguration of the new plant, NAFDAC’s Director-General, Prof. Mojisola Adeyeye, who expressed her excitement about the inauguration of the new plant as a positive development for Nigeria, commended the firm for its courageous initiative.

Adeyeye, however, urged companies that had been importing products that could be manufactured in Nigeria to transition to local production.

She stressed the importance of quality, saying: Think of quality.”

Meanwhile, the Group Managing Director of the laboratory firm, Rajesh Gupta, described the new plant as a significant milestone in their dedication to advancing healthcare in Nigeria.

He characterised the investment as a strategic and long-term commitment aimed to create jobs, facilitate technology transfer and position Artemis as a prominent player in the regional pharmaceutical industry.

“We have already secured additional space to establish this venture. This marks the initiation of a journey towards growth and development for the betterment of the Nigerian citizens and the broader ECOWAS region,” he stated.

Also, the Group Chief Executive Officer (GCEO) of the company, Nand Kumar, said that the state-of-the-art facility would enable their team of investors to significantly increase the production of high-quality medications.
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Kumar emphasised the role of local manufacturing in diminishing dependence on imported medications, making them more affordable and accessible to the public.