The Pharmaceutical Manufacturers Group, an affiliate of the Manufacturers Association of Nigeria (PMG-MAN) has raised an alarm over recent government policies, which it says has dire consequences for the industry, national security and access to essential medicine.
The association president, Okey Akpa, in a statement at the weekend, said Nigeria with a population of over 170 million people, growing at an average rate of 3 per cent, should not toy with the pharmaceutical manufacturing industry which not on guarantee availability of essential medicine but also provide jobs for Nigerians.
According to him, the recently adopted Common External Tariff (CET) was a potent threat to an industry that was gasping for breath.
“The CET was adopted at the Heads of State Summit in October 2013 in Dakar, Senegal. This policy places zero tariff on finished imported medicine while essential raw and packaging materials required by the industry for local medicine production attracts 5% to 20%,” he noted.
“This policy if implemented reverses the gains made towards the nation’s self-sufficiency in essential medicine and open all doors for total importation of finished medicines.
“It is regrettable that the damaging consequences of the policy on the local pharmaceutical manufacturing sector were no considered despite our desperate attempt to draw attention of authorities to this.”
Continuing, PMG said the Tariff if implemented will lead to unemployment, shutdown of factories, loss of investment, hike in price of essential medicines, increase in fake and substandard products, skills stagnation, depletion in foreign exchange.
The group appealed to the administration of President Muhammadu Buhari to impose Import Adjust Tax of 20% on finished pharmaceutical products Nigerian companies can produce as well as review the National Drug Distribution Guidelines.
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