Fidson Healthcare Plc has announced plans to invest $50 million over the next three years, using a mix of equity and debt financing to boost its local operations and expand into international pharmaceutical markets.

Outgoing CEO, Dr. Fidelis Ayebae, disclosed the strategy in an interview with Nairametrics, citing the evolving dynamics of Nigeria’s pharmaceutical industry.

Ayebae said the funds will be used to expand production capacity, enhance supply chain efficiency, and strengthen the company’s global competitiveness as it targets new markets outside Nigeria.

“Fidson is investing $50 million in the next three years,” Ayebae stated. “I am now retiring to ensure that we raise the necessary funds through equity and debt to fund that and make it happen, because we have faith in the economy.”

The announcement comes amid a wider national drive toward self-sufficiency in Nigeria’s pharmaceutical industry.

The Federal Government, through its Special Adviser on Health, Dr. Salma Anas-Kolo, has called on local manufacturers to produce up to 70% of the country’s medicine needs—a target that Ayebae and other industry stakeholders have welcomed.

“Before she came in, we were at about 30%, 40%, but now we are approaching 50% to 60%. Each of us is expanding our operations,” Ayebae noted, adding that no fewer than 10 companies are currently increasing production capacity in response to the government’s call.

Ayebae commended the Bola Tinubu administration for enacting presidential orders that suspended duties on raw and packaging materials for two years, describing the policy as “very helpful” in boosting local pharmaceutical manufacturing.

The expansion announcement was made during the Fidson Distributors Awards 2025, an event held to celebrate top-performing pharmaceutical distributors across Nigeria.