The Managing Director of Tyonex Group, Mr. Emmanuel Agba, has said there’s no justification for importing drugs and other pharmaceutical goods that can be manufactured in the country.
Agba, a pharmacist, said this at a media briefing recently. He argued that governments at all levels should protect the home industries by encouraging manufacturers of pharmaceutical products.
“The Federal Government can encourage drug manufacturers in the country by granting them incentives such as reduced tax or outright tax holiday for the production of essential drugs for a specified period.
“Government should also do more to protect home industry from parallel importation. In other words, government should check situations whereby items are purchased in one country at a lower price, and then imported to a country in which the items are legitimately available at a much higher price.
“Where that happens, the parallel importer can then sell the items for less than the high retail price, yet still make a profit; while undercutting the legitimate market and exposing consumers to the risks of unregulated goods. When parallel trade includes pharmaceuticals, the risks can be fatal,” Agba said.
He said since local manufacturers provide jobs for fellow citizens, government must support Nigerian drug manufacturers so that “we can also be like China and India that have become the hub of global production.”
He urged local drug manufacturers to adhere to strict manufacturing standards in line with international best practices, so as to maintain consumers’ confidence in Nigerian pharmaceutical products.
While commending the National Agency for Food and Drug Administration and Control, Agba said it should regularly audit local pharmaceutical companies so as to reassure Nigerians that drugs manufactured locally are not inferior to imported ones.
Punch
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