FG extends pharma exec order to March 2029 to boost local drugs
The Federal Government, under President Bola Tinubu, will extend the Presidential Executive Order on pharmaceutical manufacturing for another two years, running until March 2029. The announcement was made by Minister of State for Health Dr Iziaq Salako at the opening of the 8th Nigeria Pharmaceutical Manufacturers Expo (NPME) 2026. He said the current order, set to lapse in March 2027, will be renewed to sustain progress toward medicine security and cut Nigeria's dependence on imported drugs by 70 percent. Salako stated the extension aims to expand domestic pharmaceutical manufacturing, improve healthcare resilience and support economic development. The executive order provides incentives such as tax breaks, preferential access to foreign exchange for raw materials, and fast-track regulatory approvals for locally made drugs. By strengthening local production, the government hopes to reduce drug shortages, lower prices and create jobs in the sector. Local pharmaceutical manufacturers stand to benefit from continued incentives, potentially increasing investment in production capacity. Consumers may see more affordable, locally produced medicines as import reliance drops. For investors and entrepreneurs, the extended order signals a stable policy environment for venturing into drug manufacturing. Will you consider opportunities in the local pharma sector, or expect lower costs and better availability of medicines as the policy takes effect?