General News
AfDB Board Approves Establishment of African Pharmaceutical Technology Foundation
The African Development Bank’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new groundbreaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.
Dr. Akinwumi Adesina, African Development Bank Group President, said: “This is a great development for Africa. Africa must have a health defense system, which must include three major areas: revamping Africa’s pharmaceutical industry, building Africa’s vaccine manufacturing capacity, and building Africa’s quality healthcare infrastructure.”
During the African Union Summit in Addis Ababa in February 2022, the continent’s leaders called on the African Development Bank to facilitate the establishment of the African Pharmaceutical Technology Foundation.
Adesina, who presented the case for the institution to the African Union said: “Africa can no longer outsource the healthcare security of its 1.3 billion citizens to the benevolence of others.” With this bold initiative, the African Development Bank has made good on that commitment.
The decision is a major boost to the health prospects of a continent that has been battered for decades by the burden of several diseases and pandemics such as Covid19, but with very limited capacity to produce its own medicines and vaccines. Africa imports more than 70% of all the medicines it needs, gulping $14 billion per year.
Global efforts to rapidly expand the manufacturing of essential pharmaceutical products including vaccines in developing countries, particularly in Africa, to assure greater access, have been hampered by intellectual property rights protection and patents on technologies, know-how, manufacturing processes and trade secrets.
African pharmaceutical companies do not have the scouting and negotiation capacity, and bandwidth to engage with global pharmaceutical companies. They have been marginalized and left behind in complex global pharmaceutical innovations. Recently, 35 companies signed a license with America’s Merck to produce Nirmatrelvir, a Covid-19 drug. None of them was African.
No institution exists on the ground in Africa to support the practical implementation of Trade Related Intellectual Property Rights (TRIPs) on non-exclusive or exclusive licensing of proprietary technologies, know-how and processes.
The African Pharmaceutical Technology Foundation will fill this important and glaring gap. When fully established, it will be staffed with world-class experts on pharmaceutical innovation and development, intellectual property rights, and health policy; acting as a transparent intermediator advancing and brokering the interests of the African pharmaceutical sector with global and other Southern pharmaceutical companies to share IP-protected technologies, know-how and patented processes.
Adesina said “Even with the decision of the TRIPS Waiver at the World Trade Organization (WTO), millions are dying -and will most likely continue to die – from lack of vaccines and effective protection. The African Pharmaceutical Technology Foundation provides a practical solution and will help to tilt the access to proprietary technologies, knowledge, know-how and processes in favor of Africa”.
The World Trade Organization and the World Health Organization, respectively, welcomed and lauded the African Development Bank’s decision to establish the African Pharmaceutical Technology Foundation.
Dr. Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization, said “The African Pharmaceutical Technology Foundation is innovative thinking and action by the African Development Bank. It provides part of the infrastructure needed to assure an emergent pharmaceutical industry in Africa”.
Dr. Tedros Ghebreyesus, the Director-General of the World Health Organization, said “Establishing the African Pharmaceutical Technology Foundation, by the African Development Bank, is a game changer on accelerating the access of African pharmaceutical companies to IP-protected technologies and know-how in Africa”.
The African Pharmaceutical Technology Foundation will prioritize technologies, products and processes focused primarily on diseases that are widely prevalent in Africa, including current and future pandemics. It will also build human and professional skills, the research and development ecosystem, and support upgrading of manufacturing plant capacities and regulatory quality to meet World Health Organization standards.
While the African Pharmaceutical Technology Foundation is being established under the auspices of the African Development Bank, it will operate independently and raise funds from various stakeholders including governments, development finance institutions, philanthropic organizations among others.
The Foundation will boost the African Development Bank’s commitment to spend at least $3 billion over the next 10 years to support the pharmaceutical and vaccine manufacturing sector under its Vision 2030 Pharmaceutical Action Plan. The Foundation’s areas of work will also be an asset to all other current investments into pharmaceutical production in Africa.
Rwanda will host the African Pharmaceutical Technology Foundation. A common benefits entity, the Foundation will have its own governance and operational structures. It will promote and broker alliances between foreign and African pharmaceutical companies.
The African Pharmaceutical Technology Foundation will strengthen local pharmaceutical companies to engage in local production initiatives with systematic technology learning and technology upgrading at the plant level.
The Foundation will work with African governments, research and development centers of excellence to strengthen the regional pharmaceutical and vaccine innovation ecosystem for Africa and build skills of the kind needed for the pharmaceutical sector to flourish.
It will also promote closer coordination of the various ongoing medicines and vaccines’ manufacturing initiatives at the regional level to increase collaborative linkages, leverage synergies and partnerships in a pan-African context.
The African Pharmaceutical Technology Foundation will work closely with the African Union Commission, European Union Commission, the World Health Organization, the Medicines Patent Pool, the World Trade Organization, philanthropic organizations, bilateral and multilateral agencies and institutions, and will foster collaboration between the public and private sectors in developed countries and developing countries.
Federal government recently received a proposed protocol agreement from India that could pave the way for agricultural cooperation between the two countries.
Abishek Singh, India’s high commissioner to Nigeria, announced the proposal recently n Abuja during the India-Nigeria Business Forum on Agriculture and Allied Sectors.
New Delhi’s proposed cooperation would support Nigeria’s food security efforts, with the goal of reducing post-harvest losses by nearly 50% and expanding agricultural processing.
It would also cover technology transfers, mechanization, financing solutions and capacity building.
Abuja has opened similar discussions with China.
Only recently, Mukhtar Muhammed, permanent secretary at the Ministry of Innovation, Science and Technology, said Nigeria wanted to deepen scientific and technological cooperation with Beijing in agriculture.
The discussions with China have focused on developing low-cost, solar-powered cold storage facilities and transferring food-processing technologies.
Nigeria, also wants to work with Chinese research institutes to develop infrastructure that can improve the preservation of perishable products.
Nigeria’s outreach to its Asian partners addresses a major problem for the agricultural sector.
The Bank of Agriculture (BoA) estimates that Africa’s most populous country loses 30 million to 40 million tons of food each year before it reaches consumers.
Those losses are worth an average of about N3.5 trillion ($2.5 billion) annually, according to data the institution presented at a workshop in Kaduna in July 2026.
Perishable products are particularly vulnerable, according to local media reports, with fruits and vegetables accounting for an estimated 40% to 50% of total losses.
The government has already launched its own response to the problem.
Independent Corrupt Practices and Other Related Offences Commission (ICPC) indicted the National Information Technology Development Agency (NITDA) and other ministries over administrative lapses that allowed the fictitious Presidential Foreign Investment Promotion Council (PFIPC) to operate.
Musa Aliyu, chairman, ICPC, stated that NITDA, alongside the Office of the Secretary to the Government of the Federation (OSGF), the Budget Office, and other bodies, failed to carry out adequate due diligence and standard operating procedures.
ICPC said however, clarified that the findings pointed to severe internal control weaknesses and administrative negligence rather than active official complicity by NITDA and the other affected agencies.
The briefing followed a 30-day investigation ordered by the president on July 7 into allegations surrounding the purported presidential council.
The commission also cleared the presidency and the Central Bank of Nigeria (CBN) of any wrongdoing but blamed institutional lapses in several ministries, departments and agencies (MDAs).
Aliyu said investigators established that Adeniyi Adeyemi, the director-general, was never appointed by the federal government and that the PFIPC had no legal existence.
“As you may recall, on the 7th of July, Mr. President directed the ICPC to conduct an investigation into the fake Presidential Foreign Investment Promotion Council and submit a report within 30 days,” he said.
“Today, exactly within the stipulated period, we have submitted an interim report based on our interactions with all stakeholders involved.”
According to Aliyu, Tinubu directed the commission to make its findings public in the interest of transparency and accountability.
He said the investigation found that Adeyemi’s purported appointment letter was forged.
“It has been established that Adeniyi Adeyemi Matthew was never appointed by the Federal Government or any authority whatsoever,” he said.
“The Presidential Foreign Investment Promotion Council, which sometimes they called the Presidential Foreign Intervention Promotion Council, was never established by any law, executive order or any valid instrument of government.
“The appointment letter presented by Adeniyi Adeyemi Matthew was completely forged alongside similar documents used to perpetuate the illegal activities of the fake agency.”
Aliyu stated that a purported government gazette used to legitimise the organisation was also fabricated.
“If you recall, there was a gazette which he used to support the fake agency. That gazette is an illegal document that never passed through the processes prescribed by law,” he stated.
“Our investigation found that the office used by the fake agency was the office of the Presidential Economic Advisory Council. The office was broken into and access was gained illegally. That was how he was able to operate from there.”
Aliyu also revealed that investigators uncovered two additional fictitious government agencies allegedly created by the suspect — the FCT Investment Promotion Agency (FIPA) and the Foreign Investment Promotion Agency/Public-Private Partnership (FIPA-PPP).
According to him, fake legislative instruments were used to create the agencies and open bank accounts.
Despite the elaborate scheme, the ICPC chairman said the investigation found no evidence that federal government funds were disbursed to the fake council.
“Our investigation found that no funds of the federal government were approved or disbursed to the fake PFIPC,” he said.
“We also discovered no weaknesses in the systems of the State House or the Central Bank of Nigeria during our investigation. The fake appointment letter did not originate from the presidency.
“Our investigation found that some public officers failed to carry out due diligence and failed to comply with standard operating procedures in their ministries and departments. That gave him the opportunity to carry out these illegal acts.”
Nigeria tax system is build on taxing prosperity not poverty, according to Dr. Zacch Adedeji, executive chairman, Nigeria Revenue Service (NRS).
Dr. Zacch Adedeji, executive chairman, Nigeria Revenue Service
Adedeji, also dismissed the insinuation that the government’s tax reform is aimed at extracting money from Nigerians .
He said the essence of reform is creating an economic environment where individuals and businesses can prosper.
Dr. Adedeji made the clarifications on Sunday night while appearing on Channels Television’s Politics Today, where he defended the administration’s tax reforms and addressed concerns over rising government revenue amid the economic hardship facing Nigerians.
According to him, the government’s objective is to tax the fruits of investment rather than the investment itself.
“For us at Nigeria Tax, we are not there to extract. Our focus is not revenue. I don’t want to tax poverty. I’m to tax the fruit, not the seed, and I’m to tax the return, not investment.”
Adedeji explained that the government would generate more revenue as businesses became more profitable, without necessarily increasing the tax burden on individuals and companies.
He said a company that made N100 in profit could generate N30 in tax revenue for the government, but if its profit increased to N200 or N300, government revenue would rise accordingly.
“So, if I want to make more, I must work for you to make more. And that is why it is in the best interest of us in Nigeria Revenue Service that businesses are doing well, individuals are doing well,” he said.
He said the approach was consistent with President Bola Tinubu’s economic agenda, which seeks to remove barriers to investment and create a more conducive environment for businesses to operate and expand.
Adedeji cited reforms in the electricity sector as part of the government’s efforts to stimulate economic activity.
He noted that the Electricity Act had devolved powers to state governments to generate, transmit and distribute electricity, arguing that improved power supply would boost production and productivity across the economy.
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