Minister of State for Industry, Trade and Investment, Mariam Katagum, said the Federal Government, through the ministry, in collaboration with key stakeholders, is formulating a framework policy to support local manufacturing of pharmaceuticals.
Katagum said that in order to deepen support for the pharmaceutical and medical industry, the FG is also supporting the policy framework for the development of Health Industries Corporation of Nigeria.
She revealed it during the symposium of the 9th African Day of Standardization, on the theme “Promoting African pharmaceutical and medical device industries through standardization”.
Katagum said HICON is designed to provide the essential enabling environment that will attract investment for the growth and development of pharmaceutical and medical infrastructure in the country.
She said that through the implementation of HICON, the federal government will attract and encourage local manufacturing of active pharmaceutical ingredients, medical devices and diagnostics.
The Minister said, “To make healthcare affordable and accessible with good quality service delivery through strategies that would encourage private sector investment in healthcare and related industries.
“The healthcare industry includes manufacturing business activities, which include drugs, medical devices or equipment; infrastructures, hospitals, design and construction of laboratories as well as services: medical and nursing care, insurance and hospital management.
“The establishment of HICON as an institutional framework will fundamentally ensure that Nigeria has successfully established capability and capability in the manufacturing of Active Pharmaceutical Ingredients, Basic Medical Equipment and will attract huge private investment into the sector. health in the short and medium term.
She added that it is one of the fastest growing and most important sectors in the world economies, the foundation of the social protection system and one of the main factors of progress in the index. of human development in the world.
Katagum urged the transparent implementation of HICON as it will however be possible and achievable in strict compliance with the requirements of applicable standards at the national, regional, continental and international levels.
She called for regular updating of applicable standards in line with international best practices, a strict regulatory regime and an ingenious approach to prevent the import, manufacture and distribution of substandard pharmaceutical and medical devices.
The Minister also directed the Standards Organization of Nigeria and all regulatory authorities involved in this industry to redouble their efforts to ensure that only goods and services that meet established standards are available in the market.
She assured that SON will continue to get much-needed support from the ministry to continue fulfilling its mandate.