Sam Pharmaceuticals Launches WHO-Standard Factory in Nigeria with FCMB, BoI Backing
Sam Pharmaceutical Limited has commissioned a new manufacturing facility in southwestern Nigeria, marking a significant step toward strengthening local drug production and reducing dependence on imported medicines.
The newly unveiled plant, situated in Ota, Ogun State, complies with World Health Organisation (WHO) Good Manufacturing Practice (GMP) standards. The project was financed through support from First City Monument Bank (FCMB) and the Bank of Industry (BoI).
According to the company, the facility is capable of producing over 400 million tablets, 50 million capsules, two million bottles of syrup, and one million pouches monthly.
Nigeria has intensified efforts to boost domestic pharmaceutical manufacturing, especially after the COVID-19 pandemic exposed weaknesses in the country’s reliance on imported medical supplies.
Speaking at the commissioning on April 8, the Minister of State for Health, Adekunle Salako, noted that the initiative aligns with the federal government’s strategy to expand local production and reduce import dependency.
Ogun State Deputy Governor, Noimot Salako-Oyedele, highlighted that the factory is expected to create jobs, stimulate economic growth, and improve access to essential medicines within the state and beyond.
Also commenting, the Director General of the National Agency for Food, Drug Administration and Control (NAFDAC), Mojisola Adeyeye, described the facility as evidence of Nigeria’s growing adherence to international pharmaceutical standards.
Managing Director and Chief Executive Officer of FCMB, Yemisi Edun, disclosed that the bank supported the project with a ₦3 billion term loan in collaboration with the Bank of Industry, alongside over ₦3.2 billion in working capital.
She emphasized that the funding reflects the bank’s commitment to promoting local manufacturing and strengthening key sectors of the economy.
Chairman and CEO of Sam Pharmaceuticals, Amit Bhojwani, stated that the new facility will enhance production capacity and reinforce the company’s position in Nigeria’s branded generics market.
Established in 1971, Sam Pharmaceutical Limited produces more than 120 NAFDAC-approved medicines and operates facilities in Ilorin, Kwara State, as well as Ogun State.
