President of the Pharmaceutical Society of Nigeria(PSN), Mr Ahmed Yakassai has called on the Federal Government to give foreign exchange waivers to the pharmaceutical manufacturing subsector noting that except something urgent is done in this regard, many pharceutical companies may shut their plants by the end of the year. The pharmacist lamented the prevail-ing shortage of foreign exchange in the country as a result of the slide of the Naira against the dollar in the capital market.
The pharmaceutical subsector was adversely affected given that majority of the active ingredients used for manufacturing pharmaceuticals in the country are imported.
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Yakassai who made the call during a courtesy visit to Phamatex Industries Limited, Amuwo-Odofin Industrial Estate, Lagos reiterated an earlier demand made on the Federal Government by the PSN and other stakeholders in the subsector like the Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria(PMGMAN) that government should allocate 20 percent of available forex to pharmaceutical manufacturers " because after food the next essential thing is medicine. We must provide forex for our pharmaceutical manufacturers to make drugs and I believe the government is listening." Corroborating, Managing Director, Phamatex Industries Limited, Prince Christopher Nebe said the pharmaceutical subsector is feeling the prevailing harsh economic climate. "If the government does not address the forex problem quickly, many firms may stop manufacturing. The prevailing economic circumstances is a big burden, if buy raw materials today, tomorrow when you go back to buy same, the price had doubled. The government should encourage local industries."
After a facility tour of Phamatex plant with his entourage, Yakassai expressed satisfaction with the quality of infrastructure and equipment in place and urged the management to maintain the good manufacturing practice he saw. He said he was impressed to leam that the company had applied for World Health Organisation(WHO) prequalification and expressed hope the the company will be certified. " Honestly, when I was coming, I never dreamt of see-ing what I saw today in this facility, I am highly impressed. I am now an ambassador of Phamatex, anytime you have a challenge, I will do whatever I can to assist.
The industry is in distress, but this is very innovative and encouraging. I will go back a happy msn today and tell the Society what I saw. Please maintain your level of 'quality products."
By: Azoma Chikwe
Daily Sun News
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