New WHO-standard Pharma Factory Opens in Ogun State

Sam Pharmaceut Limited inaugurated a new manufacturing facility in Ota, Ogun State, on April 8, 2023, with financial backing from First City Monument Bank (FCMB) and the Bank of Industry (BoI). The plant is designed to meet World Health Organization (WHO) Good Manufacturing Practice (GMP) standards, aligning with the Nigerian government's initiative to expand local pharmaceutical production and reduce dependence on imported medicines.

The project was supported by Ogun State's Deputy Governor, Noimot Salako-Oyediran, who emphasized its role in job creation and enhancing economic activity in the state. Mojisola Adeyeye, Director General of NAFDAC, noted that the facility reflects Nigeria's growing compliance with global standards in the pharmaceutical sector.

FCMB's Managing Director, Yemisi Edun, highlighted the bank's commitment to supporting local manufacturing, with a total financial package of N3 billion in term loans and N3.2 billion in working capital for the project. Amit Bhojwani, Chairman and CEO of Sam Pharmaceut, expressed confidence in the company's ability to strengthen Nigeria's pharmaceutical brand in the market.