June 23, (THEWILL) — Fidson Healthcare Plc has praised the Bank of Industry (BoI) and the European Investment Bank (EIB) for their critical roles in strengthening pharmaceutical manufacturing in Nigeria through long-term concessionary financing and strategic partnerships.
The commendation came during a visit by delegations from the EIB and BoI to Fidson’s state-of-the-art manufacturing facility in Sango-Ota, Ogun State.
The visit formed part of activities under the €50 million healthcare financing partnership between EIB Global and BoI, designed to boost local production of medicines, vaccines, diagnostics, and other essential healthcare products across Nigeria.
Speaking during the tour, BoI’s Executive Director, Corporate Finance and Sustainability, Mr. Rotimi Akinde, who represented the Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, described Fidson as one of Nigeria’s foremost pharmaceutical manufacturers and a long-standing partner of the development finance institution.
According to Akinde, BoI has maintained a strong relationship with Fidson since 2010, providing concessionary funding that has enabled the company to expand its operations and deepen its contribution to Nigeria’s healthcare sector.
“Over the years, we have provided concessionary financing to support its expansion plans, and the company has grown significantly as a result of that partnership,” he said.
Vice-President of the European Investment Bank, Mr. Ambroise Fayolle, noted that Fidson was among the first beneficiaries of the EIB-BoI healthcare financing initiative.
He expressed satisfaction with the progress achieved since the signing of the €50 million agreement, describing Fidson as one of Nigeria’s leading pharmaceutical companies.
Managing Director of Fidson Healthcare Plc, Mr. Biola Adebayo, acknowledged the impact of BoI’s support on the company’s growth trajectory.
He disclosed that Fidson’s workforce has increased from about 250 employees in 2010 to nearly 1,800 employees currently.
He added that the financing also facilitated investments in green manufacturing technologies and environmentally sustainable production processes, helping the company improve efficiency while supporting Nigeria’s drive for pharmaceutical self-sufficiency.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
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