Investing
June 27, 2020
Pharma Companies In Nigeria Need FX Prioritization, To Boost Their Operations - Nnamdi Okafor, MD M&B

A prioritized FX window for the Pharmaceutical companies by the Central Bank of Nigeria, will help to boost the expansion of their operations and enable them access the raw materials needed to support the nation's health system post COVID-19 pandemic.


The Managing Director, May & Baker Nigeria Plc Mr Nnamdi Okafor, FPSN made this point as a guest on the WebTV "Market Review" anchored by Ottoabasi Abasiekong. Mr Okafor believed this will help the industry to address the forex challenges, especially at a time of the unprecedented pandemic.


He also called on the Federal Inland Revenue Service, FIRS and Finance Ministry to revisit the decision to place VAT exemption on essential raw materials for pharmaceutical products. Co-Anchor Mr Boason Omofaye, CEO of Frontier Africa Reports called on the government to bring healthcare to the mainstream of policy and development; urging more collaboration between pharmaceutical companies and universities in the area of research and development.


Watch Video Courtesy WebTVNG

 

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