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Olugbemi. Adeyinka Ogunleye
19 hours ago
Overview
Nigeria Reduces Reliance On Foreign-produced Medications To Between 60 To 70%
On health and some of the major milestones in the sector over the past two and half years,
- Nigeria has been able to close the gap of foreign-produced medications between 60 to 70%.
- Two major companies to produce test kits were commissioned last year; Codix (Ogun State) is producing 147 million test kits for HIV, TB, and Malaria nationwide and Abuja biotech company in Idu works in partnership with NASENI.
- €1 billion was mobilized through European Investment Bank (EIB) via the Human Development Accelerator fund, in partnership with EU and Gates Foundation.
- A $1 billion MOU was signed with Afreximbank and the President for investment funding.
- $75 million was earmarked for 10 projects via Afreximbank, convertible to Naira with CBN support.
- NSIA and IFC signed agreement for $25.4 million to establish oncology centers across Nigeria.
"Nigeria launched an academy called Empower Academy.....under the Empower Manufacturing Academy that we've set up, we have decided that we offer 40 different courses free of charge to all eligible Nigerians over the next two years. So this is going to be a game changer."
"In the area of policy right you know Mr. President has graciously signed an executive order last year. Our analysis has shown that by just implementing that zero duty VAT on input into the manufacturing, you reduce the cost by about 12%."
Credit: Daddy D.O🇳🇬 @DOlusegun on X
