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Nigerian Pharma companies get funding

Photo by Nathaniel Yeo- Ask Nigeria

N100b in funding to Indigenous Pharmaceutical Manufacturers.

TVC News Nigeria gives us a report on this breakthrough funding.

The FG has awarded N100 billion to indigenous pharmaceutical manufacturers and healthcare investors as loans to expand their capital base and boost local production of medicines and medical consumables. The loans are part of the government’s efforts to increase access to essential medicines and medical supplies, as well as to create jobs and support the growth of the local pharmaceutical industry. The government has also introduced a number of tax incentives and subsidies to encourage investment in the sector.


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Adeolastan
Adeolastan
5 months ago

The initiative to boost pharmaceutical companies through intervention of loan facility and tax incentives is a very good idea,it will seriously help the company in term of production and also creating job for the masses.

Abusi
Abusi
5 months ago

Well, the government is obliged to fund the different sectors of commerce in the country. The pharmaceutical industry is also an important part of health sector. This is why the government must have deemed it fit to give them necessary fundings.

Haykaylyon26
Haykaylyon26
5 months ago

It is a nice step by the federal government it will help to increase medical supplies and help them in their production it will help the pharmaceutical industry alot

jdpumping
jdpumping
5 months ago

100b naira funding for indigenous pharmaceutical companies that’s a good idea ,it should be used wisely for the growth of the industry and well monitored.

Tonerol10
Tonerol10
5 months ago

It is necessary for government to fund some organisation in Nigeria, because it help in growth of our economy. Job opportunity challenges will reduce.

Iyanu12345ogg
Iyanu12345ogg
5 months ago

Nice move from the FG!
N100b to fund and support to Indigenous Pharmaceutical Manufacturers is quite encouraging because it help in the growth of the country’s economy. They should monitor how the funds are been disposed. FG should look into other sectors too.

Last edited 5 months ago by Iyanu12345ogg
Tolaniiii
Tolaniiii
5 months ago

This a wonderful contribution from the government. This will go a long way in helping the pharmacy finance their business and at that they will be able to purchase and produce the number of drugs needed

Christiana
Christiana
5 months ago

This is something the government needs to do every time, they should continue to promote our local industries so we can have a better economy

Adesanyaj72
Adesanyaj72
5 months ago

This is excellent news since it will be of tremendous assistance to the company in terms of output and will also result in the creation of jobs for a large number of people.

Bola12
Bola12
5 months ago

This is a good step to improve balance of trade. At this rate we will get to export more or even import less, the government should also ensure this funds are properly managed

Taiwoo
Taiwoo
5 months ago

This loan for the pharmacy is beneficial since it will help to boost the amount of people who have access to necessary medications.

Hassan Isa
Hassan Isa
5 months ago

The government tried with this one because when they boost the growth of pharmaceutical companies in the country the citizens will live healthier lives.

Nwachukwu Kingsley
Nwachukwu Kingsley
5 months ago

This is great because it will boost the production of our locally made drugs and we won’t have to import

Remi1
Remi1
5 months ago

At least with this funding from the government these pharmaceutical companies should be able to provide quality and up to standard drugs now.

Ultra0711
Ultra0711
5 months ago

This is a step forward in increasing and strengthen the standard our health care service in the country. With this more people will have access to quality treatment.

Godsewill Ifeanyi
Godsewill Ifeanyi
5 months ago

One of the most vital aspects of the healthcare industry is the pharmaceutical manufacturing sector. Because of this, the government should have considered it appropriate to provide them with the required financial support

Kazeem1
Kazeem1
5 months ago

With this financial backing from the government, I’m sure the standard of health in the country will improve. The government should keep it up.

Chibuzor
Chibuzor
5 months ago

Wow, such a sensible move on the part of the government to also institute a variety of tax breaks and subsidies to stimulate investment in the pharmaceutical industry.

theApr
theApr
5 months ago

Whoa! This is what we love to see. This financial support would help improve production in this sector.

SarahDiv
SarahDiv
5 months ago

Brilliant we want more of this kind of funding to enable our health care givers to have all that they will need at their disposal and also our government officials will not go outside the country seeking for medical care.

DimOla
DimOla
5 months ago

This is a great news for our Federal Government to awarded N100 billion to indigenous pharmaceutical manufacturers and healthcare investors as loans to expand their capital base and boost local production of medicines and medical consumables here in Nigeria. This is awesome 👍. This is not enough they also need to attend to the needs of ASUU to enable them call of the strike.

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