Nigeria’s pharmaceutical market to hit 15% in Africa by 2030
By Ralph Tathagata
Nigeria’s pharmaceutical market share in Africa is set to hit a target of at least 15% by 2030.
Prof. Muhammad Ali Pate, the Coordinating Minister of Health and Social Welfare, who shared this on his X handle, noted that the Presidential Initiative to Unlock the Healthcare Value Chain (PVAC) is set to increase local manufacturing of pharmaceutical products to meet at least 70% of the country’s domestic demand by 2030.
He further emphasised the federal government’s resolve to turn the health sector into a hub for manufacturing and job creation.
“President Bola Ahmed Tinubu’s commitment to transforming the health sector involves shifting from a consumption-driven model to one that creates jobs, enhances economic value, and strengthens domestic manufacturing capacity while improving the overall productivity of our economy,” Pate wrote.
He continued, “This plan aims to double Nigeria’s pharmaceutical market share in Africa to at least 15% over time. I am very pleased to report that since the historic establishment of this initiative, we have achieved critical milestones.
“We are witnessing tangible outcomes from this effort. For too long, Nigeria relied heavily on imports for even the most basic healthcare commodities. This government is committed to industrialization, job creation, and economic growth while ensuring that we remain competitive in global trade.”
It would be recalled that, in October 2023, the PVAC was established by President Tinubu, with Dr. Abdul Mukhtar appointed as its national coordinator.
The initiative aims to increase local pharmaceutical production to at least 70% of Nigeria’s consumption by 2030.
It also targets expanding the life sciences manufacturing workforce from approximately 20,000 to 50,000 full-time employees setting up at least two commercially viable facilities for producing biologicals, including vaccines and establishing at least five medical manufacturing plants in the country
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