FIDSON Seeks Support To Upscale Production Capacity

Nigerian Export Import Bank ( NEXIM) under the leadership of Mr Abba Bello has promised to support the management of Fidson pharmaceuticals in their bid to sustain their regional production capacity and distribution.

In a meeting held recently at the Bank’s headquarters in Abuja, the executive director, Business Development of NEXIM, Hon Stella Okotete affirmed the bank’s interest in supporting the expansion of local industries like Fidson.

She outlined the role of NEXIM Bank in providing collaborations and advisory services to help Fidson achieve its goal of becoming a major pharmaceutical entity in Africa, thus contributing to the economic growth of Nigeria and the continent.

The discussion further focused on building a strategic partnership where NEXIM Bank could provide financial support and other resources to help Fidson Healthcare Plc scale its operations and become a leading name in the pharmaceutical industry across Africa

Deputy managing director of Fidson Healthcare Plc, Abiola Adebayo,  expressed confidence in the potential for growth through partnerships and underlined the company’s commitment to becoming a key player in providing quality and accessible healthcare solutions across Africa.

He highlighted the need for strategic investments to make Fidson a leading pharmaceutical player on the continent.

Adebayo also spoke of Fidson’s readiness to take advantage of the opportunities made available by NEXIM Bank to reach new markets in Africa.

On his part. Imokha Ayebae, the Finance Director of Fidson Healthcare Plc, Stated the challenges of regulations on the registration of their products across Africa highlighting the need for functional regional trade policies, emphasising the importance of financial backing in expanding their manufacturing and distribution capabilities to serve African markets better.

Divisional manager of Institutional Business at Fidson Healthcare Plc,  Jerome Dagun, also appreciated the response from NEXIM bank.

The Nexim Bank management team had over the last seven years performed well by recording a great increase in the operating profit of the bank and significantly reducing non-performing loans.