Experts from the Society for Pharmaceutical Sales and Marketing of Nigeria (SPSMN) have highlighted the potential opportunities arising from the United States government’s decision to pause foreign aid to Nigeria and other developing nations. This shift, according to industry leaders, could help fortify Nigeria’s pharmaceutical sector.
This discussion took place during the 2025 Economic and Business Environment Forecast and Analysis hosted by SPSMN.
In 2017, after his inauguration, former U.S. President Donald Trump signed an executive order halting foreign aid to several developing countries, including Nigeria. These funds, largely managed through the U.S. State Department and USAID, have been vital for health-related programs.
While many health experts in Nigeria expressed concerns about the potential negative effects on the country’s health sector, Tunde Oyeniran, President of SPSMN, emphasized that the absence of U.S. aid could be an opportunity for local pharmaceutical players to step in and address the gaps left by the withdrawal of foreign funding.
Oyeniran acknowledged that while the funding pause was concerning, it presented an opportunity for the pharmaceutical industry to take a proactive approach and meet the demand for essential products. “We can’t dwell on what’s lost; instead, we should focus on creating solutions and filling the void,” he remarked.
He also pointed out that many Nigerians, including government officials, might not fully grasp the consequences of the USAID funding suspension. However, Oyeniran stressed the need for adjustments, especially in terms of healthcare, as well as advocating for the government to explore new funding channels to replace the aid.
Addressing the theme of the conference, Economic and Business Environment Forecast and Analysis: Challenges and Opportunities for Pharma-Sales and Marketing Practitioners in Nigeria, Oyeniran explained that the gathering aimed to equip pharmaceutical sales and marketing professionals with critical insights into the country’s economic environment. This knowledge would allow them to adapt and maximize their performance in 2025.
Ben Chine, Chairman of the event, emphasized the importance of tackling issues such as counterfeit drugs and patient education. He urged industry professionals to prioritize adding value to customers instead of just increasing drug volumes.
In line with optimistic economic projections for 2025, Ms. Adaku Ijara, Managing Director of Emerging Africa Asset Management Limited, noted that improvements in inflation and foreign exchange stability were positive indicators for business growth. She urged the pharmaceutical sector to use innovative strategies, such as strategic pricing and technology, to overcome challenges and thrive in the evolving market.
The experts’ consensus was clear: with the right strategies and a proactive approach, Nigeria’s pharmaceutical sector could not only recover but also grow stronger in the face of reduced foreign aid.
