Fidson praises BoI and EIB for expanding pharmaceutical manufacturing roles.

By Etop Ekanem

Fidson Healthcare Plc has praised the Bank of Industry (BoI) for its concessionary financing that has helped expand pharmaceutical manufacturing in Nigeria.

The praise came after delegations from the European Investment Bank (EIB) and BoI visited Fidson’s manufacturing plant in Sango‑Ota, Ogun State.

The visit was part of a €50 million healthcare financing partnership between EIB Global and BoI, designed to increase local production of medicines, vaccines, diagnostics and other essential health products.

During the visit, Executive Director of Corporate Finance and Sustainability at BoI, Mr. Rotimi Akinde, speaking on behalf of BoI’s Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, called Fidson one of Nigeria’s leading pharmaceutical companies.

He noted that the bank has maintained a strong relationship with Fidson since 2010, providing concessionary financing to support its expansion plans.

“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,” Akinde said.

European Investment Bank Vice‑President Mr. Ambroise Fayolle said Fidson was among the first beneficiaries of the EIB‑BoI healthcare financing programme.

“A few months after signing the €50 million health financing agreement with the Bank of Industry, I am pleased to visit one of the first beneficiaries of this credit line, Fidson Healthcare, one of the leading pharmaceutical manufacturers in Nigeria,” he said.

Fidson Healthcare Managing Director Mr. Biola Adebayo said BoI’s support has been instrumental in the company’s growth.

According to him, Fidson’s workforce has grown from about 250 employees in 2010 to roughly 1,800 today, and the financing has enabled investments in green manufacturing and environmentally friendly production processes.