How Nigeria can take advantage of $100 billion global market for medicinal plants – UNIMED, Ondo
The University of Medical Sciences (UNIMED) Ondo has revealed how Nigeria can exploit the global market of medicinal plants estimated at around $100 billion which may be worth about $5 trillion by 2050. This much was disclosed at the African Traditional Medicine Day, organised by the Centre for Herbal Medicine and Drug Discovery on Thursday, 29th August, 2024 at TETFund Building, Laje Campus of the University.
In a paper titled “Development and Promotion of Indigenous Medicinal Plants to Facilitate Universal Healthcare in Nigeria “, the keynote, Pharmacist (Mrs) Zainab U. Shariff, emphasised the need for value addition to the existing medicinal plants in Nigeria so as to make them exportable. The current reality, according to her is that “Nigeria is not indicated in the export of medicinal plants despite its large biodiversity. ” All hope is not lost however if the nation, according to her, can identify hectares of land for cultivation of medicinal plants, cultivate medicinal plants for value addition, produce NAFDAC listed herbal medicines, phytomedicines, and nutraceuticals, market products to various outlets to support their further research and strengthen research, widen collaboration with relevant stakeholders, implement BSc. , Master’s and PhD in Herbal Medicine, among others.
The Vice-Chancellor, Professor Adesegun Fatusi, while speaking at the event said the university is already taking the lead in the direction of one of the way forwards suggested by the keynoter, particularly in the implementation of PgD. in Herbal Medicine. He disclosed that “as part of the fall outs of the institution’s exposure to the benefits of herbal medicine, the university has established a Department of Complementary Alternative Medicine that will begin a B.Sc. programme in October 2024”.
The Acting Director, Centre for Herbal Medicine and Drug Discovery; Dr Oghale Ovuakporie-Uvo in her welcome address reinforced the university’s commitment to the exploration of herbal medicine to facilitate universal healthcare by saying that “an understanding of the empirical basis and rational application of Indigenous traditional medicine, particularly folk and traditional medicinal practice based on the use of plants and plant extracts (herbalism) are crucial for holistic health in the African context”.
The event aptly themed “Development and Promotion of Indigenous Herbal Medicine to Facilitate Universal Healthcare in Nigeria ” had policymakers, industry experts and practitioners such as Dr Tunji Alausa, the Honourable Minister of State for Health and Social Welfare, Dr Azeez Aderemi, Acting Chief Executive Officer/Interim Administrator, Federal College of Complementary and Alternative Medicine, Professor Kofi Busia, former Director of Health Service, West African Health Organisation, etc., in attendance so as to back decisions reached with appropriate policy.
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