– Inaugurates New Multi-billion Naira Pharmaceutical Factory in Ota
By Biola Lawal
It’s (Flowerbudnews): NAFDAC Director General, Prof. Moji Adeyeye has assured that Nigeria has economic potential to become a hub for pharmaceutical production and innovation in line with the current NAFDAC’s efforts to boost local production.
Prof Adeyeye gave the assurance while inaugurating a multi-billion Naira pharmaceutical facility constructed by Artemis Laboratories Limited in Ota, Ogun State.
The NAFDAC DG noted that Artemis decision to invest billions of Naira in the factory, signified the company’s confidence in Nigeria’s economic potential to become a hub for pharmaceutical production and innovation.
Prof Adeyeye commended Artemis for their courageous initiative in investing so heavily in Nigeria’s pharmaceutical sector.
She acknowledged that NAFDAC’s 5+5 policy, which encouraged companies that have been importing products that can be manufactured in Nigeria to transition to local production was yielding results.
Prof Adeyeye revealed that about 30 percent of new companies have emerged based on the 5+5 policy, emphasising that the initiative encouraged importers to invite companies to start manufacturing in Nigeria or form partnership with existing companies.
The NAFDAC Director General commended Artemis for taking the bold step to invest in Nigeria for the benefit of the country and urged the company to prioritise quality.
She emphasised the importance of quality, saying,, ”because you are going to use the medicines you are making. If its not good, its going to affect you. If not you, it may be your relatives or anyone close to you. Think quality.”
The Director General expressed her delight at Artemiss remarkable commitment to Nigeria, noting the substantial investment made in the new factory.
She emphasised that this bold and forward-thinking step positioned the company not only to address healthcare needs, but also to contribute significantly to economic development and technological advancement in the country.
Additionally, she highlighted that ”the establishment of this facility and other emerging pharmaceutical companies will fill the void left by the departure of some multinational pharmaceutical companies from Nigeria.”
Prof. Adeyeye underscored the importance of producing high-quality products, urging the company to manufacture items that enhance consumers’ lives rather than diminish them.
She stressed the need for competitiveness in the global market as well.
Earlier, Indian Envoy, Shri Chandramouli Kumar Kern, the India Consul General, who also spoke at the ceremony, disclosed that another set of Indian investors had received approval to invest $25 million in the Nigerian economy.(Flowerbudnews)
