In a swift response to plans by National Agency for Food and Drug Administration and Control (NAFDAC) to shut down all open drug markets in the country by July, Worldwide Commercial Venture has officially unveiled its N70 million state-of-the-art warehouse facility.
The facility, which by every inch meets the standards of a contemporary warehouse, will house pharmaceutical products of major drug producers in the country at convenience and internationally regulated standards.
Speaking at the official unveiling of the facility in Lagos recently, Paul Orhii, director-general, NAFDAC, commended the firm for such initiative, saying that the timing of delivering the warehouse was also perfect as the country had concluded plans to shut down all open drug markets by July.
Orhii noted that though the firm would eventually recoup its investment in the long run, “the facility would also be of immense benefit to Nigeria’s pharmaceutical industry and the entire society at large.
“This is the kind of facility that should be used to house drugs in Nigeria, because we believe that drugs should be kept under appropriate conditions and not in an open market where drugs loose their potency before arriving the market.”
Ananth Narayan, managing director, Worldwide Commercial Venture, explained that the investment was aimed at raising the bar in supply chain management of pharmaceutical formulations in the country to be at par with what was obtainable in other advanced countries of the world.
Narayan further revealed that though pharmaceutical warehousing in Nigeria was a capital intensive venture, the huge need prompted his firm to partner its principles, the regulatory body in delivering the world-class facility, which measures about 12,000 square feet.
According to him, some of the amenities available at the facility include air conditioners, fire equipment and standard operating systems inline with global best practice. These, Narayan said, are all geared towards ensuring that only stocks that meet international operating procedures are moved in and out of the warehouse.
ODINAKA MBONU
