Business
NAFDAC And Dignity For Herbal Products
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
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
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