The Managing Director of Merit Healthcare Limited, Pharm. (Dr) Lolu Ojo, has called for urgent investment in Nigeria’s pharmaceutical manufacturing sector, warning that the country’s continued reliance on imported medicines poses a serious threat to national security and economic resilience.
Ojo made the call recently while delivering the keynote address at the Annual Lecture Series of the Faculty of Pharmacy, Olabisi Onabanjo University (OOU), Ogun State. The lecture, themed “The Practice and Prospects of Industrial Pharmacy”, highlighted the critical role of the sector in achieving sustainable healthcare and economic growth. He stressed that no nation can attain true health security or economic independence without a robust local pharmaceutical industry.
Speaking further, he urged government officials, academics, and private sector leaders to prioritise the revitalisation of the industrial pharmacy sector as part of a broader national development strategy.
“Our destiny should not be tied to foreign drug manufacturers. A strong pharmaceutical industry not only ensures access to life-saving medications, it also strengthens our economy, creates jobs, and gives us greater control over our health systems,” he said.
According to Ojo, industrial pharmacy goes beyond drug production to include research and development (R&D), regulatory compliance, quality control, logistics, and supply chain management—pillars that form the foundation of a self-sufficient healthcare system.
Despite Nigeria’s potential, he lamented, the sector remains heavily dependent on imports, with over 70 percent of medicines consumed in the country sourced from abroad. He noted that the COVID-19 pandemic starkly exposed the risks of such dependency, underscoring the urgent need for homegrown solutions.
However, Ojo expressed optimism that with the right combination of policy reform, infrastructure investment, and public-private collaboration, Nigeria could emerge as a pharmaceutical leader in Africa.
“This industry offers us a powerful path to sovereignty. If properly harnessed, it could drastically cut our medicine import bill, stimulate economic growth, and provide employment for thousands of Nigerians,” he stated.
Tracing the industry’s trajectory, the Merit Healthcare MD recalled a time of vibrant local production in the post-independence era. He noted that this momentum was disrupted by the Structural Adjustment Programme of the 1980s and long-standing economic instability. While the 2010s witnessed a modest resurgence—driven by firms such as Fidson, Emzor, and Swiss Pharma—he warned that the gains remain fragile without deeper structural reform.
He identified several obstacles to sectoral growth, including unstable electricity supply, poor transportation and water infrastructure, dependency on imported active pharmaceutical ingredients (APIs), forex volatility, inadequate innovation funding, regulatory bottlenecks, and a shortage of skilled professionals. Nonetheless, he maintained that these challenges are surmountable with sustained leadership and national commitment.
To illustrate the industry’s untapped potential, Ojo cited figures showing that the world’s top 10 pharmaceutical companies generated over $559 billion in revenue—15 times Nigeria’s national budget and more than triple its GDP. He argued that even 10 per cent of this value could transform Nigeria’s economy, stressing the need to think boldly and act decisively.
Ojo also highlighted projections that Nigeria’s pharmaceutical market will grow from $3 billion to $3.6 billion by 2026. He said this growth, especially under the African Continental Free Trade Area (AfCFTA), presents a unique opportunity for Nigeria to turn its health needs into an economic advantage.
He further called for urgent reforms in pharmacy education, advocating for updated curricula that incorporate Good Manufacturing Practice (GMP), regulatory science, quality control, and pharmaceutical logistics. He also stressed the importance of stronger academia–industry partnerships, engaging experienced professionals in teaching, and structured internship programmes for pharmacy students.
“Our graduates must be trained not just to dispense drugs, but to develop and manufacture them. That is the only way to build a resilient pharmaceutical ecosystem,” he said.
Commending recent efforts by the National Agency for Food and Drug Administration and Control (NAFDAC) to strengthen collaboration between academia and the pharmaceutical industry, the eminent pharmacist described the initiatives as promising steps towards the commercialisation of local research.
He concluded by urging stakeholders to recognise the strategic importance of industrial pharmacy, not only to the profession but to the nation’s future. “If we get it right, we won’t just improve public health; we will unlock a future of economic security for generations to come,” he affirmed.
