In a bold step to deepen Nigeria’s self-reliance in medicine production, May & Baker Nigeria Plc is setting up a new manufacturing facility in Anambra State — part of an aggressive expansion plan that underscores the company’s growing influence in West Africa’s pharmaceutical market.
The move, announced by Managing Director and CEO Patrick Ajah during the Association of Community Pharmacists of Nigeria’s 2025 Annual Conference in Awka, will complement the company’s existing depot operations in Onitsha. Ajah, speaking alongside Anambra State Governor Chukwuma Soludo at the company’s exhibition booth, said the new plant reinforces May & Baker’s legacy as Nigeria’s first indigenous pharmaceutical manufacturer.
“We are heavily invested in producing quality medications locally and developing products from Nigerian research,” Ajah said.
Governor Soludo praised the firm’s innovation push, noting that many of the medicines on display were manufactured at the company’s Pharmacentre in Ota, Ogun State. He also pledged state support for investments that stimulate job creation and drive economic value within Anambra.
Pioneering herbal medicine
Beyond its mainstream pharmaceutical products, May & Baker is advancing Nigeria’s herbal medicine industry. Its current portfolio includes Niclovix, developed by the Nigerian Institute for Pharmaceutical Research and Development, and Roveda — a bitter-leaf-based product created by Benson Idahosa University Vice Chancellor Prof. Ernest Izevbigie. Ajah described the herbal line as a fusion of traditional knowledge, local raw materials, and modern science, targeting both domestic and export markets.
Strong financial performance fuels growth
May & Baker, 41.78% owned by retired army general and billionaire investor Theophilus Yakubu Danjuma through TY Holdings and affiliates, has posted robust growth figures. Revenue rose from ₦13.97 billion ($9.12 million) in the first half of 2024 to ₦19.28 billion ($12.59 million) in the same period of 2025, while gross profit climbed from ₦4.35 billion ($2.84 million) to ₦6.67 billion ($4.35 million).
The company’s expansion into Anambra follows earlier investments in vaccine production through Biovaccines Nigeria Limited — a public-private partnership with the federal government.
Policy backdrop
The expansion comes as Nigeria works to boost domestic drug production. In June 2024, President Bola Tinubu signed an executive order removing tariffs, excise duties, and VAT on specialized pharmaceutical machinery, equipment, and raw materials. The policy is aimed at reducing reliance on imports and stimulating local manufacturing of essential healthcare products such as syringes, vaccines, and medical textiles.
With its latest investment, May & Baker is positioning itself not only as a market leader in Nigeria but also as a catalyst for Africa’s broader health innovation ecosystem.
