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NAFDAC And Dignity For Herbal Products

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Notaby, just as the glo
bally detested fake, substandard and counterfeited pharmaceutical products are very harmful and highly destructive to human health, so also are traditional /herbal products of similar status. Indeed, the Nigeria alternative medicine market is in dire need of modern sophistications, dynamic development  and critical overhaul for global competitive practice in the sector.
Historically, the use of medicinal herbal products in the curing and prevention of numerous diseases and ailments is ancient in practice. However, the emergence of western civilisation  brought in its wake, orthodox or modern medical practice.
Despite the various enormous technological and scientific sophistications that have characterized this mode of medication, it could be simply considered as an improvement on the aged traditional and ancient approach to medicine practice.
Such is its dependability and effectiveness in both curative and preventive medicine practice  that the usage of herbs  for medication purpose is maximally acknowledged and embraced globally particularly in Britain, United States of America, Germany, India, China etc.
It is in this regard that Nigeria, a highly revered Giant in the Africa continent has expressed outright unwillingness to be shoved aside as the world progressively tilts towards blending modern with traditional /herbal cum alternative medicine in an attempt to proffer  varieties of suitable medications for the avalanche of deadly diseases which abounds in all the nooks and crannies of the world.
Apparently, this explains the current posture of Government in this regard through the Dr Paul B.Orhii led National Agency for Food, Drug Administration and Control (NAFDAC) .
Undoubtedly, Indeginous herbal preparations or mixtures emanates from the blending of plants medicinal properties such as flowers, bark,  leaves ,roots, berries, seeds, fruits etc .
The end products which could be in form of dry extracts {ie capsules or pills},tinctures ,liquid extracts, oil, syrups, teas etc are used for the treatment of various ailments  and diseases.
They are equally termed as alternative ,complimentary or supplementary in medicine practice and therefore not alien.
In Nigeria, for instance, the ancient/traditional and seeming hereditary nature of its practice over the years seems to have encouraged its massive infiltration by quacks, illiterates and saboteurs who are merely masquerading as  herbal experts.
More embarrassing is the unsubstantiated and non-verified effectiveness , efficacy and potency claims ascribed to herbal products by marketers such that users are misled to believe that a single product can cure a retinue of   diseases including AIDS,HIV while at the same time boost sexual libido etc
Some herbal practitioners and marketers have resorted to unauthorised, desperate and highly insincere means of advertisement in a deliberately calculated attempt to fraudulently garner mass patronage from unsuspecting buyers including using NAFDAC numbers as a guarantee for their claimed herbal products efficacy and reliability.
These obnoxious practices  has in turn made herbal medicine practice an all comer affair with an attendant negative consequence on the innocent consumers.
As a legally authorised healthcare regulator, the onus of sieving the grains from the shafts rest on NAFDAC  which is determined to bring to bear on the sector outright sanity through thorough examination and standardization of the various processes, preparations and products culminating into effective and efficient herbal medicine practice.
It is in this regard that the agency has evolved  modernised scientific techniques to adequately regulate and promote herbal products manufacturing and marketing with a view to according it due relevance through proper repositioning for outright acceptability both locally and internationally.
NAFDAC is indeed determined to ensure that herbal medical products being put across to the public for use or consumption as a reliable means of medication are non poisonous{non-toxic},safe, non –complicative ,efficacious and are in accordance with globally acceptable /specified good manufacturing practice standards.
It is in an attempt to maximally guarantee safety for the human life ,that NAFDAC has urged all herbal medicine practitioners nationwide to henceforth forward mandatorily to it ,herbal preparations and products for a proper cum professionalised scientific and medical examination before being accorded a partial approval status known as NAFDAC Listing status which is not a guarantee on herbal products curative and preventive capacity or effectiveness efficacy which constitutes the first approval stage.
In the same vein permission/authorisation is to be compulsorily obtained from the agency by practitioners for their herbal products before being advertised for public acceptance and patronage in the mass media-Radio,T elevision, Newspapers, Magazines,Bill boards,Electronic boards, etc.This is believed will entrench sanity in herbal products advertisement.
Similarly ,the agency is putting in place a dynamic second and final herbal products approval phase which comprise scientific based herbal products efficacy/effectiveness verification mechanism which will involve series of clinical trials.
To this end, a high powered committee comprising seasoned intellectuals and scientific egg heads duly  sourced from both the academia universities and research agencies eg NIBRID has been constituted .
These medical and scientific Think-Tanks are to among other things, thoroughly examine, assess and consider herbal composition , preparations and products to ascertain efficacy status or where necessary ,recommend appropriate rectification  measures.
They are also to unfold the nature of government support or assistance required to upgrade herbal medicine practice through herbal products development and standardisation to compete with international quality efficacy and safety  output standards.
Furthermore, the agency has resolved not to rest on its oars as it has restrenthened its public enlightenment approaches and measures aimed at ensuring that herbal medicals  are effectively and efficiently regulated thereby ensuring that they are safe for use.
Interestingly, the agency has remained consistent in the hosting and co-ordination of enlightenment and interactive workshops for herbal practitioners and other stakeholders in the sector in an attempt to adequately equip and update them with modern requirements/international best practices as well as standards and knowledge in the development and upliftment of the sector.
Obviously, the social, political and economic benefits accruable to a nation from the production and marketing of herbal products are indeed enormous.
Apart from boosting foreign exchange earnings, creating employment opportunities, dignifying our nation and herbal products,it will further empower government to provide social amenities,avail the citizenry a reliable alternative source of health care while helping to ensure that our pride as a progressively focused nation is maximally sustained through the production of standardised life saving herbal medical commodities to mention but a few of its advantages.
Ideally, herbal products ability and competence must be thoroughly substantiated through necessary laboratory analysis and other relevant medical experimentations for curative and preventive assurance before favourable public pronouncement can be made on such products capacity .
It is only by so doing that herbal medicine can be maximally and relevantly integrated into the Nation’s healthcare delivery system to provide the required complementary, supplementary or alternative role.
In all, the various numerous and scintillating advantages ascribable to embracing of herbal products could become outrightly elusive if adequate urgent measures are not adopted to regulate, control and standardise its production and administration such that only very competent persons who are knowledgeable in herbal medicine composition, preparation and use are allowed access to its practice which invariably, is the position of NAFDAC as it relates to herbal medicine practice.

 

Martins Ikhilae

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Nigeria’s ETF correction deepens as STANBICETF30, VETGRIF30 see 50% decline in a week

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Nigeria directs all oil, gas revenues to federation account in sweeping reform
Nigerian President Bola Tinubu has signed an order directing that all oil and gas revenues owed to the government be paid directly into the federation account, in sweeping reforms aimed at boosting public finances, the presidency said on Wednesday.
Under the law, the Nigerian National Petroleum Corporation keeps 30% of oil and gas profits for frontier exploration in inland basins. The presidency said those funds will now be paid into the federation account and appropriated by the government.
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NNPC also retains 30% of oil and gas sales as operational costs and receives 30% of proceeds from Production Sharing Contracts. Under the new directive, all revenues under these arrangements will flow directly to the federation account, while the company will instead receive appropriated management fees.
Royalty payments, petroleum profit taxes and other statutory revenues previously collected and retained by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will also be paid directly into the Federation Account. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) will likewise remit its revenues in full, with its cost of collection to be funded through appropriation.
Tinubu’s office said deductions enabled by the law had sharply reduced net oil inflows and contributed to fiscal strain across federal, state and local governments. The president also ordered a review of the law and established an implementation committee to enforce the changes.
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BOI Introduces Business Clinic 

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The Bank of Industry (BoI) has introduced a business clinic model designed to diagnose, treat and rehabilitate the Micro, Small and Medium Enterprises (MSMEs) to ensure long-term growth and sustainability.
The Divisional Head, Business Development, BoI, Dr Obaro Osah, made this known at the bank’s Thrive Summit with the theme: “Driving Growth through Innovation and Financial Empowerment” on Tuesday in Lagos.
Osah noted that traditional banking often treated businesses as mere account opening and management relationships.
He said the BoI business clinic model was created to reimagine the essence of a bank as a specialised teaching hospital.
According to him, just as a hospital requires a thorough diagnosis before service treatment/surgery, the bank must analyse the structural health of a small business before injecting capital.
“Financial distress is often just a symptom, the disease lies in operations and adopted philosophy, strategy, or governance,” he said.
Osah noted the many MSMEs, in spite of their potential, suffer from recurring ailments: restricted cash flow, poor operational structure, lack of proper packaging and market access, poor management among others.
He said the bank’s triage and vital signs included screening SMEs by maturity stage, pulse check to assess cash flow and liquidity and market temperature to evaluate competitive landscape.
Osah said after these evaluation, advanced diagnostics, prescriptions, surgical interventions and recovery and rehabilitation would be carried out where necessary.
“Prescription without diagnosis is malpractice and the Thrive Summit ensures we treat the root cause, not just the symptoms,” he said.
The Chief Strategy and Development Officer, BoI, Dr Isa Omagu, noted that MSMEs needed more than finance to succeed.
Omagu said they needed structure, advisory, capacity building, governance, digital readiness, access to market information and the right business infrastructure to operate and scale effectively.
He said as part of the bank’s 2025-2027 Corporate Strategy, the business clinic would expand BoI’s value proposition to broaden its products and services to better reach target segments.
Omagu said by offering structured business advisory and project development support, the clinic would enable the bank deliver deeper, more holistic value to MSMEs beyond financing.
“This vision of a structured, holistic business clinic; one that strengthens MSMEs across all core business functions and makes them more bankable, competitive, digitally enabled, and sustainable, is fully aligned with our strategic initiative to develop and roll out non-financial product offerings.
“Through this initiative, BoI commits to providing business advisory for MSMEs and project lifecycle support for enterprises, and the business clinic serves as the practical platform through which this commitment comes to life,” he said.
Omagu urged MSMEs to apply the guidance received to strengthen structure, governance, and financial management.
He added that they must adopt digital tools and improve internal processes to boost competitiveness while engaging BoI as a long-term partner in building a resilient, scalable business.
Mrs Eniola Akinsete, Divisional Head, Sustainability, BoI, said adopting Environmental, Social and Governance (ESG), principles often led to business prosperity.
Akinsete, however, noted that in spite of the benefits, adoption challenges persisted.
She affirmed BoI’s support on the adoption of ESG Practices by the MSMEs.
Earlier, the Executive Director, Corporate Finance, Sustainability and Investments, BoI, Mr Rotimi Akinde, said the summit represented a shared commitment to building a stronger, more resilient business ecosystem in Nigeria.
Akinde stated that the business clinic created a platform for practical knowledge sharing where entrepreneurs and small business owners could gain actionable insights to overcome challenges and seize opportunities.
He said discussions would focus on critical areas that drive sustainable growth, including branding and marketing, financials and activities, human rights, human resources, raising capital for equity and technology.
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Dangote signs $400 mln equipment deal with China’s XCMG to speed up refinery expansion

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Nigeria’s Dangote Group has signed a $400 million equipment deal with China’s Xuzhou Construction Machinery Group to speed up the expansion of its oil refinery toward a planned 1.4 million barrels per day, the company said on Tuesday.
The additional equipment is expected to support major projects under construction across refining, petrochemicals, agriculture and infrastructure.
Dangote said the XCMG agreement would allow it to acquire a wide range of new heavy-duty machinery to complement existing assets deployed for the refinery build?out, which the company expects to complete within three years.
As part of the expansion, polypropylene capacity will rise to 2.4 million tons per year from 900,000 tons. Urea production in Nigeria will triple to 9 million tons per year, alongside an existing 3 million-ton plant in Ethiopia, positioning the conglomerate as the world’s largest urea producer, the company said.
The output of linear alkyl benzene – a key raw material for detergents – will increase to 400,000 tons annually, making Dangote the biggest supplier in Africa. Additional base-oil capacity is also planned in the programme.
Dangote Group described the equipment deal as a strategic investment aligned with its ambition to become a $100 billion enterprise by 2030.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects,” it said in a statement.
Owned by Nigerian billionaire Aliko Dangote, the $20 billion refinery began operations in 2024 after years of delays. Once fully operational, it is expected to reduce Nigeria’s heavy dependence on imported refined fuel and reshape fuel supply across West and Central Africa.
Reporting by Isaac Anyaogu; Editing by Anil D’Silva
The Nigeria-Slovenia Chamber of Commerce on Thursday urged the Nigerian business community to explore business opportunities in Slovenia to widen their horizons.
The Tide source reports that the chamber made the call at its 2025 Last Quarter Business Forum held in Lagos State.
The forum is the chamber’s routine session aimed at informing businesses about the latest opportunities of mutual benefit between both countries, encouraging people to explore them to improve their livelihoods.
Speaking at the event, which was attended by businessmen and trade regulatory agencies, the Director-General of the Nigeria-Slovenia Chamber of Commerce, Mr Uche Udungwor, described the relationship between the two countries as a bilateral economy.
Udungwor said the body, established to build, promote and facilitate trade and investment activities between Nigeria and Slovenia, had positively impacted both nations.
He said the mandates of the chamber include: “To provide a forum representative of Nigeria and Slovenia’s interests for the development and improvement of commerce and industry between the two countries.
“Also, to create, promote and sustain broad exchanges and interactions in commercial, industrial and economic fields between the countries.
“To promote cooperation on technical and scientific innovations between institutions of the countries through the exchange of regular information on trade and investment opportunities.
“To advise members on opportunities, challenges, legislation or otherwise arising from the pursuit of trade between Nigeria and Slovenia, and to encourage the exchange of ideas and views on trade matters within the context of trade promotion between both countries.”
According to him, Slovenia’s major imports include organic chemicals, agro products such as cocoa beans, iron and steel/metal scraps, wood, and mineral fuels/petroleum products.
He said the trade balance between Slovenia and Nigeria is “not quite encouraging”, citing United Nations COMTRADE data indicating that Slovenia’s imports from Nigeria in 2022 amounted to $5.7 million.
Udungwor described the Republic of Slovenia, located in Central Europe with about 2.1 million inhabitants, as a promising business frontier for Nigerians.
He noted that the country features Alpine mountains, thick forests and a short Adriatic coastline.
“Slovenia, which borders Italy to the west, Austria to the north, Croatia to the south and southeast, and Hungary to the northeast, has a 2024 GDP of 72.49 billion dollars, a sound economy and a low-risk business environment.
“Slovenia has been a member of the European Union since 2004 and of the Schengen Group since 2007. It is also a member of the Organisation for Economic Co-operation and Development (OECD).
“Slovenia today is a stable, vibrant democracy that offers a stimulating business environment and represents a bridge between the Balkan, Central European and Western European countries.
“The Nigeria-Slovenia Chamber of Commerce is at your service to provide up-to-date information and advice about Slovenia’s economy, business opportunities, companies, products and services for the mutual benefit of all,” he said.
A participant, Mr Muyiwa Ajose, said his partnership with the chamber had bolstered his agro exports to Slovenia.
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