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The project received financial backing from First City Monument Bank (FCMB) and the Bank of Industry (BoI), reflecting a coordinated push to support local industry growth.

NIGERIA—Sam Pharmaceutical Limited has opened a new manufacturing facility in Ota, Ogun State, in southwestern Nigeria, marking a significant step in expanding the country’s local drug production capacity.
The move comes as Nigeria intensifies efforts to reduce its reliance on imported medicines and strengthen domestic pharmaceutical manufacturing.
The newly commissioned plant meets World Health Organisation (WHO) Good Manufacturing Practice (GMP) standards, positioning it among facilities aligned with globally recognised production and quality benchmarks.
The project received financial backing from First City Monument Bank (FCMB) and the Bank of Industry (BoI), reflecting a coordinated push to support local industry growth.
Government and industry support
Speaking at the commissioning on April 8, Minister of State for Health Adekunle Salako said the facility aligns with the federal government’s strategy to expand local pharmaceutical production.
He noted that increasing domestic capacity remains critical to improving medicine availability and reducing dependence on imports.
Ogun State Deputy Governor Noimot Salako-Oyedele added that the factory will contribute to job creation and stimulate economic activity within the state.
At the same time, she highlighted its role in improving access to essential medicines for the population.
Meanwhile, Director General of the National Agency for Food, Drug Administration and Control (NAFDAC), Mojisola Adeyeye, described the facility as evidence of growing compliance with international standards across Nigeria’s pharmaceutical sector.
She emphasised that such developments strengthen regulatory confidence and product quality.
Financing and strategic investment
FCMB Managing Director and Chief Executive Officer Yemisi Edun said the bank supported the project with a ₦3 billion (US$2 million) term loan in partnership with the Bank of Industry.
In addition, the financing package included over ₦3.2 billion (USD $2.1 million) in working capital.
She explained that the investment reflects the bank’s broader focus on strengthening local manufacturing and supporting key sectors of the economy.
Similarly, the involvement of the state-backed BoI highlights the strategic importance of pharmaceutical production within Nigeria’s industrial development agenda.
Positioning for market growth
Sam Pharmaceuticals Chairman and Chief Executive Officer Amit Bhojwani said the new plant will scale up production and enhance the company’s position in Nigeria’s branded generics market.
He noted that increasing capacity will allow the company to meet growing demand while maintaining quality standards.
Founded in 1971, Sam Pharmaceutical Limited produces more than 120 NAFDAC-approved medicines.
The company operates facilities in Ilorin, Kwara State, and Ogun State and continues to expand its footprint within Nigeria’s healthcare manufacturing landscape.
The new WHO-GMP-compliant facility reflects a broader industry shift toward strengthening local supply chains, particularly as African markets respond to ongoing global supply disruptions.
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