Nigeria’s healthcare sector is heavily reliant on imports, leading to higher costs and reduced access. Mary Ogangwu of Codix Pharma insists on the need for effective policy measures to achieve targets of local manufacturing. Despite economic challenges, Codix is committed to producing locally, thus fostering sustainability in healthcare. Future initiatives aim to revolutionize the sector, enhancing access and affordability for all Nigerians.
Nigeria currently faces significant challenges regarding its healthcare industry, heavily reliant on imported pharmaceuticals and medical equipment. This reliance elevates costs, reducing access to essential healthcare services for many citizens. Mary Ogangwu, Chief Operating Officer of Codix Pharma Limited, asserts that implementing sound policies and government initiatives is critical for achieving the nation’s goal of 70 percent local medicine manufacturing and 30 percent for devices.
In assessing the healthcare industry outlook for 2024 and beyond, Ogangwu acknowledges the economic challenges affecting the sector, such as inflation and currency depreciation, which have raised costs for imported healthcare products. This scenario has led to an increase in healthcare expenses, creating access issues and notable health inequalities, particularly as supply chain disruptions have exacerbated shortages of necessary medications.
Despite these hurdles, 2024 saw the Nigerian government engage in domestic healthcare manufacturing expansion, adopting regulatory and policy reforms to drive investment initiatives. However, the onset of 2025 poses challenges due to the withdrawal of USAID funding, a significant contributor to healthcare programs in Nigeria. This shift raises concerns about the country’s dependence on foreign aid versus investing in sustainable local healthcare capacity.
Codix Pharma aims to address local healthcare needs by establishing manufacturing facilities in Nigeria, including pioneering initiatives such as the Colexa Biosensor factory. This facility represents a significant stride toward sustainable local production of medical devices, emphasizing the importance of reducing reliance on imports and addressing healthcare supply chain challenges showcased during the COVID-19 pandemic.
With over 70 NAFDAC-registered products and a commitment to innovative healthcare solutions, Codix has established itself as a key player in the Nigerian healthcare sphere. The company emphasizes the necessity of collaboration within the industry, seeking partnerships with government entities, development partners, and financial institutions to bolster its installation of locally manufactured healthcare products.
However, Codix faces numerous challenges, including access to affordable financing for healthcare projects and the adverse effects of inadequate infrastructure on operational efficiency. Despite the obstacles, Codix remains optimistic about the future of healthcare in Nigeria, anticipating a progressive shift towards healthcare localization driven by government initiatives.
Looking ahead, Codix envisions becoming a leading health technology enterprise in Africa by 2030, employing backward integration strategies and collaborative efforts within the industry to not only cater to the Nigerian market but to extend its reach across the African continent.
In summary, Nigeria’s healthcare sector is navigating a complex landscape of economic challenges, high dependence on imports, and the need for localized manufacturing. Mary Ogangwu of Codix Pharma emphasizes the necessity for robust governmental policies to achieve healthcare manufacturing targets. With a commitment to innovative solutions and strategic partnerships, Codix aims for transformative growth in the industry, despite the pressing challenges of financing and infrastructure. The focus on localization positions Codix and the healthcare sector for a more self-sufficient future, tapping into regional capabilities to better serve the African market.
Original Source: businessday.ng
