PSN applauds as AfDB is set to invest $3bn in Africa's pharmaceutical industry
Pharmaceutical Society of Nigeria, PSN

By Chioma Obinna

President of the Pharmaceutical Society of Nigeria PSN, Pharm Sam Ohuabunwa weekend lauded the African Development Bank AfDB on its decision to invest 3 billion dollars ($3 billion) to build Africa’s pharmaceutical industry in the next 10 years as well as support the Africa Centre for Disease Control, Africa CDC, with 28 million dollars to strengthen its capacity to ensure the manufacture of vaccines in the continent.

Ohuabunwa said PSN cannot agree more with the President,  AfDB, Dr Akinwumi Adesina statement during a meeting themed ‘Africa’s Green and Resilient Recovery: A Common Objective’, in his submission. “Let’s finance in common and build a common positive story of innovation and investment in Africa, leveraging and mobilising all willing stakeholders. The days of pure aid are over. Africa is ready for sustainable investment.”

READ ALSO: More telecom subscribers unhappy in Q1 2021

Ohuabunwa further stated that the COVID- 19 Pandemic has exposed the vulnerability of Africa, especially Nigeria, which depends largely on import for basic needs including Pharmaceuticals.

“The nationalism of Vaccines and Active Pharmaceuticals Ingredients (APIs) leaves us with no option but the likes of the foresight and forthright projections like this.

Private businesses especially the Pharmaceutical Sector have been impacted negatively by the Pandemic.

“The disrupted supply chain made costs unpredictable and volatile. So this huge investment will ease our frustration of dearth of medicines and Active Pharmaceuticals Ingredients (APIs) and develop our local content through purposeful research tailored to need.”

He expressed hope that the actual implementation be all-encompassing to include the last line in the Pharmaceutical Care delivery, ‘The Community Pharmacies”, and devoid of clauses encumbering disbursement, for maximum impact.

He said any investment in the sector that would not translate to improvement in availability and access to medicines would grossly undermine the intention behind the transgenerational initiative.

He said: “Given the antecedents of Mr Akinwumi  Adesina, as a Minister for Agriculture in Nigeria and his formidable team at AFDB, we are confident that they will work the talk.

We thank him and his team and assure him the full cooperation and support of the Pharmaceutical Society of Nigeria as they deliver on this project.”

Vanguard News Nigeria

Subscribe to our youtube channel


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.