PHAMARCEUTICAL INDUSTRY AND EVOLUTION IN NIGERIA.PART11

However,over the years,according to the period under review,some of the multinationals have divested,boosting growth in local capacity and majority privately owned,with only 5percent goverment owned or owned by its agencies.They engaged in medicine repackaging and importation of basic raw materials,and churn out farcical drugs.Industry capacity is put at about 40percent,in addition,capacity to produce diverse types of drugs for export,as well as meeting national needs,as of essential drugs,is said to worth $350million per annum.( ManufacturingToday:2012).When during the same period under review,the then CBN Governor Charles Soludo,challenged the competitive nature of the industry with the words that the industry in Nigeria..."has neither a comparative nor a competitive advantage in phamarceuticals"it was indeed a fatal blow to the over fifty years of laborious toils of the vastly untapped industry.He then called for serious strategising to be able to create that competitive advantage.He was indeed factual.