By Chioma Obinna

May & Baker Nigeria Plc has celebrated four years of significant growth, marked by a tripling of revenues with a renewed commitment to ambitious expansion targets of N41 billion this year.

The Managing Director of the company, Mr Patrick Ajah, made this known at the company’s 2025 Customer Forum on Thursday in Lagos.

Celebrating its 2025 Customer Forum themed: Consolidate Beyond Boundaries”, the pharma company highlighted significant achievements in 2024 with 47 percent growth.

The Managing Director/CEO, Mr. Patrick Ajah, who expressed his gratitude to employees and partners for their contributions to the company’s success said despite a challenging economic climate marked by fluctuating exchange rates and rising costs of raw materials, May & Baker has not only survived but thrived.

Ajah announced a tripling of revenues in the past four years, from ₦9.4 billion in 2020 to ₦28.9 billion in 2024, representing a 47% growth in 2024 alone, significantly outpacing the national economic growth rate.

“This year, we set ourselves another audacious target,” Ajah stated, expressing optimism that the company will reach ₦41 billion in revenue by the end of 2025.
Presenting the company’s “2024 Business Review & 2025 Business Expectations”, the Head Pharma Sales & Marketing, Mr Obinna Emeribe echoed this positive outlook, celebrating the company’s 92 percent achievement of its ₦27.6 billion target for 2024, translating to ₦25.6 billion in sales.
He detailed the growth across various business segments, highlighting the success of products like SIPO and the introduction of seven new fast-moving products in 2024.

Looking ahead to 2025, Emeribe unveiled a ₦38 billion sales target, driven by both organic growth and new product launches.
He also outlined expanded marketing initiatives, including diabetes screening programmes and promotional offers.

“We are going to screen about 5,000 new patients for diabetes and that means that they will likely get our products. Now, based on your request, we will be giving out bags of rice and vegetable oil as promo items this year.”

The company is investing heavily in infrastructure to support this growth, including factory upgrades, a green line expansion, new logistics trucks, and a new Abuja depot.

Emeribe emphasised the importance of the company’s partnerships, acknowledging the contributions of individual partners and highlighting their faces on a “wall of honour.”
He stressed that the company’s growth is intrinsically linked to the growth of its partners, promising continued support and collaboration.

Addressing recent challenges with the supply chain and payment cycles, he announced the implementation of a 30-day credit cycle, starting from the day goods are received, aiming to improve efficiency and cash flow.
“No more post-dated cheques. The 30-day credit cycle is now operational. We’re bringing new cash to that effect.

But, we should not worry about the 30-day cycle. We’ve put a particular measure in place to ensure that when we say we are giving you 30 days, you are getting 30 days.

What we’ve done is that the 30 days will start counting from the day you receive the goods.
He thanked partners who had already embraced earlier calls for cash payments on orders exceeding credit limits.

The event showcased May & Baker’s commitment to innovation and its strong relationships with its partners. The company’s leadership expressed confidence in achieving its ambitious goals for 2025, emphasising the importance of teamwork and continued collaboration.

“This is just the beginning,” Emeka stated, urging partners to support the company’s growth initiatives.

Some of the customers and distributors, thanked the company for their support and commitment to growing the business despite the economic challenges.

They urged the company to improve their delivery system to ensure prompt delivery of goods.

The event also featured the presentation of ‘Awards of Excellence’ to some outstanding distributors and customers of May & Baker as well as the unveiling of one their products Multivatim plus.