Natural medicine agency seeks increased investment to boost herbal medication
The Nigeria Natural Medicine Development Agency has called for deliberate investment in the research and development of natural medicines.
The Director-General, NNMDA, Martin Emeje, made the call in an interview with journalists on Thursday in Lagos.
Mr Emeje said that the estimated revenue that the world expects from herbal medicine alone, which is just one component of traditional medicine or natural medicine, is about $5 trillion.
He said that the country was not prepared for it because the private sector and government were not investing sufficiently in this area.
According to him, the country must invest in research and development, especially in natural medicine, to generate revenue and forex for the country.
He said, “The beauty of investing in the development of services and products in natural medicine is that you do not need more than 24 months to begin to reap what you invested. Natural medicine is not like the classical pharmaceutical drug development chemicals that take about eight to 12 years to reap returns on investment. Within six months to 12 months, one could begin to reap investment made in this area.’’
He said the job and responsibility of NNMDA was to be on the field for research purposes on natural medicine to reap the benefit of investment.
According to him, after the research, the agency develops the products from medicinal plants and has the proof of concept at the level it can no longer fail before commercialising it.
Mr Emeje said that natural medicine also could create jobs for the teeming youths if taken seriously by the government and investors.
The director-general said that with a country blessed with not less than 300 medicinal plants, youths and entrepreneurs could be involved in the farming of the plants for export.
He said such is the practice in developed countries and could be achieved in Nigeria with proper awareness, sensitization, and mentorship, which NNMDA would willingly undertake.
According to him, currently, India and China export 80 per cent of their medicinal plants to Europe and America.
Mr Emeje said there was a need to create awareness on the benefits of natural plants to the economic growth of the nation.
He said that such awareness and education could encourage investment, grants, and the creation of foundations for the development of natural medicines.
(NAN)
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