Medical Experts Lament Exodus Of Pharmaceutical Companies, Blame Unstable Power Supply, Heavy Taxes

Medical experts have lamented exodus of pharmaceutical companies due to lack of conducive environment.

The experts blamed poor electricity, heavy taxes and lackof government support for the exodus of experts and multi national companies.

The National Chairman, Association of Community Pharmacists of Nigeria (ACPN), Wale Oladigbolu, and Osun state Chairman, Pharm Bankole Kamordeen, stated this in Osogbo during the opening of a pharmaceutical company, Friday.

Oladigbolu who was represented by the state chairman of Association of Pharmaceutical Society of Nigeria (PSN), Prof Moses Akanmu, posited that if the government can make the environment conducive, manufacturers will not run away from the country.

Similarly, the CEO of Rizqah Pharmaceuticals Ltd, Kamordeen, stressed the need for government to support manufacturers with interest free money and give waiver on raw materials.

He said, the most important thing is to make the power stable noting that the amount being spent by manufacturers on diesel daily is enormous.

“The raw materials needed for production should be waiver in terms of the forex exchange. If the manufacturers are allowed to purchase at normal rate, it is not going to be easy for many manufacturers. There should be an intervention on waiver of the forex exchange for the manufacturer.

“The equipment being used by the manufacturers should be made tax free. As we have in many developed countries, the government should support manufacturers with money (interest-free) and provide good security.

“It is because of lack of conducive environment that people are moving out of Nigeria to find greener pasture. We have big market in Nigeria because we have population. Where you have population, there is a market. Recently, a lot of multi national companies have left and that is a vacuum created that a lot of local manufacturers can key into to solve the problem,” Kamordeen said.

He enjoined the younger ones in the profession to think of how to pay back to the country, saying Nigeria has tried to train medical students in a way to make the study affordable for them.

“I will advice our younger ones to think back because wherever you go is not your home. Everything is not about money, it is about impact you are able to make in the lives of others. It is better to be beneficial to the people around you. Nigeria has given us a lot of opportunity to train us more or less free. If you compare what we are paying in Nigerian universities, you will realise that we are not paying much. If the country can train us, why can’t we utilize the opportunity for the benefit of our people,” Kamordeen said.

Also, a consultant surgeon, Dr Layi Adeoti, decried heavy taxes from different tiers of government which he described as unpleasant for the success of business.