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PS-DMCMA Announces Local Production of Pharmaceutical Products 

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The Plateau State Drugs and Medical Commodities Management Agency (PS-DMCMA) has announced the commencement of local production of pharmaceutical products to address drug accessibility and affordability issues within the state.

The Executive Secretary of the agency, Kim Bot, made this announcement during an interview with the News Agency of Nigeria (NAN) on Thursday in Jos.

Bot, a pharmacist, highlighted that the agency has already manufactured five pharmaceutical products, signaling the start of a significant stride toward self-reliance in healthcare.

Manufactured products 

The locally produced pharmaceuticals include:

  • Cough syrup
  • Antacid (Mist. Magnesium Trisilicate) for oral use
  • Methylated spirit
  • An antiseptic for external use
  • Sanitisers for surface cleaning

Bot noted that these products have undergone efficacy testing, yielding exceptional results. “The efficacy of the products had been tested and superb results were gotten,” he stated.

In addition to manufacturing, Bot discussed the agency’s pharmaceutical-grade warehouse, which exemplifies the Plateau State government’s dedication to ensuring the quality, safety, and efficiency of the pharmaceutical supply chain. The warehouse features advanced temperature control systems, cutting-edge inventory management technology, and stringent security measures.

“This warehouse serves as a vital link between pharmaceutical manufacturers and healthcare providers, ultimately benefiting countless patients who rely on these essential medicines,” he explained.

As the agency moves forward, it plans to scale up production once it secures registration and certification from the National Agency for Food and Drug Administration and Control (NAFDAC).

Bot added that the majority of raw materials for these products were locally sourced, with only one ingredient being imported.

According to Bot, this local manufacturing effort is expected to enhance the accessibility and affordability of essential medicines within the state. “The efforts would bring about accessibility and affordability,” he reiterated.

Bot also praised Governor Caleb Mutfwang for his unwavering commitment to improving healthcare in the state. He acknowledged the governor’s role in ensuring that Plateau residents receive the best possible healthcare services. 

Nigeria’s pharmaceutical sector is making strides toward increasing local drug production, with a target to reach 70% manufacturing capacity. Prof. Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), revealed that local production has already surpassed 30%, nearing 40%. Adeyeye stated, “Our goal is to increase local manufacturing to 70% while limiting importation to 10%.”

In addition to this initiative, NAFDAC has approved 105 application for the establishment of drug manufacturing facilities across Nigeria, out of 143 submissions. These facilities comply with the Good Manufacturing Practice (GMP) standards set by the World Health Organization (WHO) and NAFDAC’s GMP for Medicinal Products Regulations 2021.

According to Adeyeye, 35% of the approved facilities have already completed construction and are advancing through the registration process in line with NAFDAC’s guidelines for pharmaceutical plant establishment.

These efforts are to improve affordability, drug security and reduce dependence on imported medicines in Nigeria.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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