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As inflation rises Pharmaceutical Manufacturers in Nigeria threatens relocation

Ministry of health

If Nigeria government don’t take urgent action, drug manufacturers may relocate to other neighbouring countries which will bring about lose of jobs as they have threatened.

Some drugs will be out of reach to common Nigerians as the group have lamented that the inflation rate is choking the industry.

Recently the World Bank listed Nigeria among the top ten countries with the highest inflation rate.

It increased to 18.60% in June on a YOY basis.

The Executive Secretary of of the organisation during an interview said, “The industry is taking excruciating pain to absorb the incremental cost of production; especially when you look at the smart investments at stake. If you transfer the high cost of production to the patients, they will not buy drugs again and they will continue drinking alternative local herbs, which will lead to a decrease in access to medicine for Nigerians as out-of-pocket expenses are still at a very high percentage. 

"The alternative will be to relocate to other countries where production will be cheaper."

He also complained about the high cost of diesel gas.

Due to lack of steady power supply, many businesses in Nigeria rely on diesel to power their generator, the cost is really affecting businesses.



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