PMG-MAN urges FG to extend pharmaceutical policy incentives to five years to attract investment and strengthen medicine security.
The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMG-MAN) has set a target of achieving 70 per cent local drug production, urging the Federal Government to introduce policies that will lower energy costs and improve the competitiveness of the pharmaceutical industry.
The group made the call during a media briefing in Lagos to announce the 8th Nigeria Pharma Manufacturers’ Expo (NPME 2026), scheduled for September 28 and 29 at Harbour Point, Victoria Island.
Chairman of the Expo Planning Committee, Dr Patrick Ajah, said removing operational bottlenecks would encourage investment, increase local production and strengthen Nigeria’s medicine security.
Ajah, who is also the Managing Director/CEO of May & Baker Nigeria Plc, said the industry had grown from 20 pioneer members in 1983 to more than 200 manufacturing companies.
He said the sector remained committed to reducing Nigeria’s dependence on imported medicines.
Executive Secretary and CEO of PMG-MAN, Pharm. Frank Muonemeh, said the industry had recorded significant progress, citing NAFDAC data showing that imports of finished pharmaceutical products fell from 4.03 billion units to 1.13 billion units in 2025.
However, Muonemeh identified high energy costs and delays in clearing pharmaceutical inputs as major threats to the sector’s growth.
He said pharmaceutical manufacturers currently spend more than 40 per cent of their revenue on electricity and alternative power generation, compared with less than 10 per cent in countries such as China and India.
He called for targeted interventions, including dedicated industrial energy tariffs and policies to encourage local production of Active Pharmaceutical Ingredients and other essential inputs.
PMG-MAN also urged President Bola Tinubu to extend the current two-year policy framework supporting the pharmaceutical sector to five years, arguing that longer-term policy stability would provide investors with greater certainty.
The 2026 Nigeria Pharma Manufacturers’ Expo, themed “Regional Manufacturing: Advancing Africa’s Pharma and Life Science Sovereignty through Localisation,” is expected to bring together manufacturers, policymakers, investors and technology providers to discuss technology transfer, regulatory harmonisation, market access, contract manufacturing and cross-border market integration.