In line with the stimulus package unveiled by the Central Bank of Nigeria (CBN), which is already totaling N3.5 trillion, to cushion the effects of COVID-19 in the country, deposit money banks (DMBs) have agreed to grant further funding facilities to some pharmaceutical companies in the country.
The Bankers’ Committee, an umbrella body of managing directors of banks in the country and directors of CBN, rose from their meeting on Saturday to offer their own support to what the CBN had already unveiled during the week.
READ ALSO: COVID -19: Private Medical Practitioners Urge Govt To Synergise With Stakeholders
“The committee has identified a few key local pharmaceutical companies who shall be granted Naira and FX funding facilities to support procurement of raw materials and equipment required to exponentially increase local drug production in Nigeria.
“These include, but not limited to Emzor, Fidson , G&K, May & Baker, Unique Pharma, Swiss Pharma, Neimeth, Sagar, Orange Drugs and Dana Pharma, etc,” they said in communiqué released at the end of the meeting.
