PSN Tells Nigerian Govt: We Have Potential To Revive Nation’s Failing Economy


The Pharmaceutical Society of Nigeria (PSN) says members have the potential and there urged the Federal Government to utilise them in reviving the failing nation’s economy and driving the country on the road to recovery. This year’s World Pharmacists Day has as its theme: “Pharmacy United in action for a healthier world.”

In a statement to commemorate the occasion, the PSN stated that the pharmaceutical industry is worth approximately $1.42 trillion globally and that in some nations, it is worth more than the annual budget of Nigeria. It went on to say that if Nigeria’s pharmaceutical industry is given the proper attention and nurturing, it will be better positioned to take advantage.

The statement partly reads, “We observed that in the last five years, almost 5,000 Pharmacists have emigrated to Canada and the UK for greener pastures just like all other healthcare workers and indeed new generations of Nigerians. Of the about 50,000 Pharmacists produced in Nigeria, less than 20,000 practice in the country, meaning that well over 50 percent of Nigerian Pharmacists practice abroad.

The PSN also stressed that a Pharmacoeconomic colloquium was imperative. “An economic forum comprising leaders of Pharmacy in the private and government levels on the one hand, and on the other, all government ministries, departments, and agencies involved in economic planning, forecasting, and implementation. This should be geared toward developing a national master plan for a pharmacy sector revolution to generate exponential revenue by harnessing the abundant potential of the sector.”

On how pharmacists can help transform Nigeria, the PSN said the involvement of pharmacists will ensure a healthy populace. “The bottom line of the intervention of pharmacists is to improve people’s quality of life. Studies show that when pharmacists are involved in patient care, medication errors are drastically reduced, patients spend less money and time in the hospital, the risk of death and disability is minimal and a healthier workforce is guaranteed for the nation.

“It is on record that billions of dollars were saved for the US economy through the activities of pharmacists. Think of what a billion dollars can do for Nigeria.

The PSN also noted that their members can also provide leadership due to their rigorous training prepared them to take on various challenges.


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