The National Coordinator of the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), Dr Abdu Mukhtar says data from Customs indicates about ₦26 billion naira has been accessed by manufacturers under the initiative.
This was at the review meeting of the Technical Working Group implementing the Presidential Executive Order on the local manufacturing of pharmaceuticals and healthcare products held nearly one year after the policy was introduced by President Bola Ahmed Tinubu. The review showed positive progress, with sixty-three pharmaceutical companies, representing about fifty-five percent of eligible firms, benefiting from the Executive Order.
Dr Abdu Mukhtar says the policy is helping manufacturers become more competitive and profitable, resulting in lower or more stable prices for essential medicines.
According to him, the initiative is also supporting local production, creating jobs, and improving access to affordable and quality medicines for Nigerians. With one year left before the expiration of the Executive Order, the committee also considered requests for the inclusion of additional manufacturers and products, as well as plans to make recommendations to the government on future implementation.
The meeting, hosted by PVAC, brought together key stakeholders, including representatives from the Ministries of Health, Trade and Industry, Customs, the Nigerian Revenue Service, the National Agency for Food and Drug Administration and Control (NAFDAC), the Standards Organisation of Nigeria (SON), and other relevant agencies.
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