The Pharmaceutical Society of Nigeria has called on the Federal Government to increase investments in local manufacturing industries so as to boost its growth and development.
The Chairman, PSN, Prof. Cyril Usofih, made the call during a courtesy visit to Bond Chemical Group of Companies in Awe, Oyo State.
Speaking on the issue of drug importation and the need to support local manufacturers, Usofih explained that sustaining local drug production, particularly for products that could be manufactured within the country, would discourage the reliance on imports and promote the growth of local manufacturing.
He assured members of the pharmaceutical society that the issue of unnecessary billing on licenses and registrations would be tackled as part of his reforms.
He said the effort is in recognition of the importance of reducing bureaucratic obstacles, with the aim of creating a conducive environment for local manufacturers to thrive.
Also, Managing Director of Bond Chemical Group of Companies, Aderemi Omotosho, urged PSN to work towards establishing a consistent and mandatory government patronage system, similar to the insurance industry, to encourage more investors and bridge the gap in the local manufacturing sector.
Omotosho complained about the transportation challenges faced by the industry, including increased energy costs and occasional fuel scarcity.
He said “Transportation has really been an issue with the increased energy cost and occasional fuel scarcity. The organisation has devised a means of transporting both finished goods and raw materials in one trip of movement, thereby maximising the productivity of the vehicles and driver.
“Local drug production should be sustained, especially for products that we have the capacity to manufacture locally. This will, in the long run, discourage drug importation and encourage local manufacturers.”
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