The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, has witnessed the signing of a landmark Memorandum of Understanding (MoU) between Nigeria’s Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) and Barbados Pharmaceutical Inc. (BPI).
The ceremony, held in Abuja on Tuesday, marks a major step in deepening health cooperation between both nations, with ministerial endorsement underscoring its importance.
The MoU is expected to accelerate local pharmaceutical manufacturing in Nigeria and strengthen regional market access across CARICOM–LATAM, ECOWAS and the AfCFTA.
It provides a shared framework for the two countries to drive industrial growth, improve drug availability, and enhance regulatory collaboration.
The agreement also initiates discussions toward a regulatory reliance arrangement between NAFDAC and Barbados’ emerging Medical Products Regulatory Authority.
At its core, the MoU aims to establish joint activities that advance local production, strengthen policy reforms, and create financing channels that mirror PVAC’s successful deal-making model.
The Barbados delegation will also engage with AMA Medical Manufacturer and visit existing biomedical facilities, setting the stage for a Barbados-based production hub and future bilateral trade in medical and diagnostic products.
Prof. Pate reaffirmed the Federal Government’s full support for the partnership, noting that it aligns with President Bola Ahmed Tinubu’s drive to industrialize the health sector, reduce dependence on imports, and strengthen national and regional health security.
He emphasized that Nigeria’s growing pharmaceutical market, improved regulatory environment, and expanding primary healthcare utilization create the right conditions for impactful collaboration with global partners like Barbados.
