Nigeria imports 98% of medicines – industry leaders demand FG action

Industry experts, investors, and government officials have raised alarm over Nigeria's heavy dependence on imported medicines, calling for urgent reforms and investment to stimulate local pharmaceutical manufacturing.

At the 2025 Nigeria Pharmaceutical Industry Growth and Investment Summit, hosted by PBR Life Sciences on Thursday, May 22, in Lagos, stakeholders warned that the country’s healthcare system is at significant risk due to overreliance on foreign drugs and raw materials.

“Nigeria imports 70% of the medicines we consume. This makes our healthcare system highly vulnerable to currency fluctuations, rising costs, and global supply chain disruptions,” said Ayodeji Alaran, CEO of PBR Life Sciences, in his keynote address.

Alaran noted that with Nigeria’s population expected to surpass 377 million by 2050 and the pharmaceutical market projected to reach $1.01 billion by 2028, now is the time for bold investments in local production.

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While acknowledging federal initiatives like the National Pharmaceutical Manufacturing Plan, he emphasised that real progress must be driven by private sector innovation and capital.

“The future of Nigerian healthcare will be defined by the decisions we make today,” he added.

The data presented at the summit painted a grim picture.

Dr. Abdu Mukhtar, National Coordinator of the Presidential Initiative for Unlocking Value Chain (PVAC), revealed that Nigeria imports 80% of essential medicines, 100% of vaccines, and 99% of medical devices.

“This is clearly unsustainable for a country of over 230 million people,” he warned.

Dr. Mukhtar outlined several government-led reforms to address the crisis. Key among them is an Executive Order by President Bola Tinubu that eliminates import duties and VAT on equipment and raw materials used in local pharmaceutical production.

He also announced the creation of Medipool, a new purchasing organisation that aggregates demand and secures long-term contracts to stabilise the market for local manufacturers.

Despite these efforts, private sector leaders said much more must be done to support local manufacturers and ensure long-term industry viability.

Chimezie Anyakora, CEO of Bloom Public Health, emphasised the pharmaceutical industry's strategic importance to national security.

“If the government does not see itself as a partner and treat the pharmaceutical sector as a national security issue, we cannot move forward,” he said.

Anyakora called for the establishment of a pharmaceutical medical park to drive industrial growth and attract investment, pointing out that Nigeria has over 200 pharmaceutical companies and a market of over 200 million people, one of the largest in Africa.

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In a panel session, Olayemi Oladiran, CEO of Alpha Orion Nigeria Ltd, highlighted several barriers to local production, including the high cost of WHO qualification, lack of skilled manpower, and overwhelming dependence on imported raw materials.

“Many companies still import 98% of their raw materials. What is the government doing about this part of the value chain? We need a long-term plan to develop raw material plants locally,” Oladiran said.

Oladiran argued that local sourcing of pharmaceutical-grade materials would improve quality control and reduce the country’s reliance on foreign exchange.

“If we can produce raw materials locally, we pay in naira, not dollars. That’s a major savings for the economy,” he said in an interview.

The summit concluded with a consensus among stakeholders: without serious investment, policy reform, and public-private partnership, Nigeria risks deepening its pharmaceutical vulnerability, with dangerous consequences for national health security.