Emzor Pharmaceutical Industries Limited has stated that its $23m Active Pharmaceutical Ingredient production plant would help to reduce Nigeria’s drug import by 2026.
In a statement issued by the Head of Marketing and Strategy at Emzor, Kunle Faloye, to herald the successful repayment of its debut Series 1 Commercial Paper on Thursday, the company stated that the API plant, nearing completion, will boost Nigeria’s drug self-sufficiency while also reducing import dependence for vital medicines.
“Situated in Sagamu, Ogun State, the $23 million API plant is the first of its kind in Sub-Saharan Africa.
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“This venture bolsters Nigeria’s drug self-sufficiency by reducing import reliance and lowering production costs, especially for vital medicines like antimalarials and HIV/AIDS antiretrovirals.
“Initially slated for opening in Q1-2024, but the timeline has been revised to early 2026, owing to fiscal, monetary, and regulatory complexities.
“Despite these pressures, the project is advancing swiftly, with over 90 per cent of civil engineering works completed and critical production equipment already installed, the API R&D laboratory has already developed and synthesised five antimalarial API’s in anticipation of full-scale production,” the statement read.
The statement however, stated that successful repayment of its debut Series 1 Commercial Paper will see Emzor retain its A- investment grade credit rating with a stable outlook even as it continues to exemplify financial discipline and credibility within Nigeria’s investment landscape.
“Issued in November 2024 under its ₦10bn Commercial Paper Issuance Programme, the ₦5.13bn note was fully redeemed on August 18, 2025, marking a key milestone in Emzor’s capital markets journey,” the statement added.
Emzor noted that beyond this financial triumph, Emzor continues to drive innovation, quality, self-reliance, and excellence in pharmaceutical manufacturing.
The company has also successfully scaled up Local Active Pharmaceutical Ingredients production with a $23m transformative investment.
The statement added that Emzor Pharmaceutical continues to sustainably champion drug safety with Innovative Track-and-Trace Technology,
demonstrating a steadfast commitment to quality and consumer safety, Emzor has rolled out an advanced ERP, Oracle, as well as a track-and-trace software system across its supply chain.
“These solutions support lean manufacturing, tighten inventory management, and strengthen market surveillance, helping to eliminate substandard and counterfeit medications, especially in underserved areas.
“The company has remained unwavering in promoting manufacturing resilience and regional outreach, at a recent ECOWAS@50 summit in Lagos, Emzor reaffirmed its pivotal role in enhancing medicine security across the continent.
“Notably, the company now has over 200 registered products manufactured across several factory sites, and distributes to all Nigerian states and West Africa, including direct exports to Liberia and Sierra Leone,” the statement read.
The company, however commended commended the federal government for policies bolstering local pharma production.
Emzor is one of the beneficiaries of a landmark policy move by Nigeria’s government, which exempts pharmaceutical raw materials from import duties and VAT for two years.
“This regulatory support aims to stimulate local production, making essential medicines more affordable.
“This also adds to the bold and extensive backward integration strategy that Emzor is vigorously pursuing. In addition, a new economic directive known as ‘The Nigeria-First Policy’, approved by President Bola Tinubu, in May this year, mandates all Federal ministries, departments, and agencies to prioritise procurement of locally manufactured goods, improving the outlook for the supply of Emzor’s products during public tenders,” the statement added.
According to the company, Emzor’s timely repayment of its debut commercial paper underscores its robust financial management, while its strategic initiatives—ranging from cutting-edge infrastructure to digital integrity systems, highlight its leadership in Nigeria’s pharmaceutical evolution.
“As the company nears completion of its landmark API facility and continues to expand its footprint, Emzor remains at the vanguard of building resilient, accessible healthcare across Africa,” the statement said.
