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More Nigerian Pharmaceutical Firms May Be Listed On the Nigeria Stock Exchange

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Published on : Feb 12, 2015

NAIP, the Nigerian association of industrial pharmacists stated yesterday that more Nigerian pharmaceutical companies will be listed in the Nigeria Stock Exchange (NSE) soon.

Gbenga Falabi, the association’s Chairman, stated this during the courtesy visit to the Nigeria Stock Exchange yesterday.

Falabi said that some of the pharmaceutical companies in the Nigerian market will soon list their shares on the NSE, adding that his visit to the NSE was meant to facilitate the process of listing shares on NSE.
He said that the healthcare businesses in Nigeria had very small or little visibility on the NSE due to the numbers of companies listed on it, saying that the company the healthcare industry of Nigeria looks like it is shy of public appearance and there needs to be done something to break the trend, like bringing in a larger number of these healthcare companies to the list on the Nigeria Stock Exchange.

He explained that the Nigerian healthcare industry is growing at a fast rate. That when added to the fact that of the 170 million people in the country, nearly N12,000 that are spent per Nigerian can easily lead to revenues of over N2 trillion yearly. This alone explains the immense potential held by the industry.

He added that the industry was improving its performance quite a lot in terms of growth.  Also, the Nigerian pharmaceutical industry is in the forefront as it will continue on the growth drive at both, the financial and products’ level.

Recently, four Nigerian pharmaceutical companies were accredited by the GMP certification of WHO, and that it was in the pre-qualification stage of drugs for conditions like HIV, Malaria, and Tuberculosis. Many more Nigerian pharmaceutical companies are also in the line to be accredited. 

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