A Pharmacist, Mr Uche Akpakama, says high forex, poor funding of research and sole dependent on imported raw materials for pharmaceutical production is hindering the development of the industry in Nigeria.
Akpakama, who is the Managing Director of Paxs Pharmacy, stated this in an interview with the News Agency of Nigeria (NAN), during the inauguration of the Awka branch of the stores on Thursday.
According to him, these challenges are also taking a negative toll on the masses access to effective healthcare service.
“Pharmaceutical products, particularly in Nigeria have a challenge; that every item used for the production of pharmaceutical products in Nigeria is imported, except water.
“So, it requires a lot of foreign exchange and today, the foreign exchange are not even there. This has affected the pharmaceutical industry so much.
“Moreover, the pharmaceutical industry is dependent on the petrochemical industry, which has failed in this country.
“Most of the raw material used in pharmaceutical research, synthesis and production are based on the basic petrochemical rings, which Nigeria has refused to develop, the result is that we don’t even have the building blocks.’’
Akpakama, who is also the president of Onitsha Chambers of Commerce, Industry, Mines and Agriculture (ONCCIMA), urged the federal government to address the problems in the energy sector and review its commercial policies to rejuvenate the local industries.
APC/DOR/IS