Nigeria, Barbados Sign $32m Agreement to Establish Pharmaceutical Plant, Target 2029 Production

Nigeria and Barbados have taken a major step towards strengthening healthcare cooperation and pharmaceutical manufacturing following the signing of agreements for the establishment of a $32 million pharmaceutical production facility in Barbados.

The proposed factory, which is expected to commence operations in 2029, will initially have the capacity to produce 12 million units of intravenous (IV) fluids annually, a critical medical product used in hospitals and healthcare facilities.

The project will involve a partnership between the governments of Nigeria and Barbados, Nigerian pharmaceutical manufacturer AMA Medical Manufacturing, Barbados Pharmaceutical Inc. (BPI) and the African Export-Import Bank (Afreximbank).

The agreements facilitating the project were signed on November 3, 2026, on the sidelines of the 2026 Commonwealth Heads of Government Meeting (CHOGM) held in St John’s, Antigua and Barbuda.

The development was formalised through a Memorandum of Understanding between Barbados Pharmaceutical Inc. and AMA Medical Manufacturing, as well as a project preparation facility term sheet between AMA and Afreximbank.

The proposed investment is designed to combine Nigeria’s pharmaceutical manufacturing expertise with investment opportunities in the Caribbean, creating a production hub in Barbados that will serve regional and international markets.

Secretary to the Government of the Federation (SGF), George Akume, who represented Nigeria in the partnership, described the initiative as a demonstration of both countries’ commitment to strengthening economic and industrial relations.

Akume said the collaboration would improve pharmaceutical production, expand trade opportunities and promote the exchange of technology and professional skills between Africa and the Caribbean.

He explained that bringing together Nigeria’s manufacturing experience and the Caribbean’s investment opportunities would create new opportunities for industrial development and strengthen South-South cooperation.

Barbados Prime Minister, Mia Amor Mottley, described the project as an important step towards economic resilience, improved healthcare security and stronger relations between the two regions.

According to her, the partnership reflects the determination of African and Caribbean countries to build productive industries, strengthen their healthcare systems and create sustainable economic opportunities for future generations.

Mottley stressed that although Barbados is a small island nation, its ambitions for economic growth and regional development remain significant.

She added that the initiative demonstrated how countries in Africa and the Caribbean could use their shared history and relationships to establish a stronger economic partnership.

Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, also welcomed the agreement, describing it as an example of what she termed “re-globalisation in action”.

Okonjo-Iweala noted that the COVID-19 pandemic had exposed the risks associated with depending on a limited number of countries for essential medical supplies.

She stressed the need for countries to diversify pharmaceutical manufacturing and supply chains to prevent future disruptions and improve access to critical healthcare products.

The WTO chief said the partnership would connect African and Caribbean manufacturing capabilities, strengthen supply chain resilience and promote industrial development through trade and investment.

She further disclosed that the WTO Secretariat had provided initial support for the initiative, viewing it as an opportunity to encourage trade through improved regulatory frameworks and diversification of essential medical products.

Senior Executive Vice-President of Afreximbank, Denys Denya, said the project was part of the bank’s expanding engagement with Caribbean countries, particularly following its interventions during the COVID-19 pandemic to facilitate access to vaccines.

Denya explained that the proposed financial support would extend beyond the initial project preparation facility to include senior debt financing, working capital and risk-bearing instruments needed to establish and operate the factory.

He said the investment would enable Caribbean countries to develop local pharmaceutical manufacturing capacity, reduce dependence on imported medicines, strengthen healthcare independence, facilitate technology transfer and create skilled employment opportunities.

Chairman of AMA Holdings, Abdullahi Musa Bello, said the partnership would allow the Nigerian pharmaceutical company to extend its manufacturing capabilities into the Caribbean market while contributing to the region’s industrial development.

Bello explained that the company was committed to establishing a commercially sustainable manufacturing operation supported by technical expertise, dependable supply chains and long-term market opportunities.

Similarly, the Acting Chief Executive Officer of Barbados Pharmaceutical Inc., Dr Cindi Lewis, said the immediate priority was to translate the agreements signed in Antigua and Barbuda into a fully operational manufacturing facility.

She noted that technical evaluations and financial assessments would play important roles in ensuring that the project moves beyond agreements and reaches actual production.

The proposed factory will initially focus on manufacturing intravenous fluids, which are widely used in hospitals for patient treatment and other medical procedures.

However, plans are also being considered to expand production to other pharmaceutical products, subject to technical feasibility, commercial viability and regulatory approvals.

Afreximbank’s proposed project preparation facility will finance the necessary technical, commercial and financial assessments required to determine the project’s viability, establish its financing structure and prepare it for investment.

Despite the agreements reached, the full $32 million financing package has not yet been secured. Regulatory approvals, construction arrangements and other necessary processes are also outstanding.

Nigeria-Barbados Pharmaceutical Trade Already Underway

The proposed manufacturing investment builds on existing pharmaceutical trade between Nigeria and Barbados.

In March 2026, AMA Medical Manufacturing delivered its first shipment of intravenous fluids to Barbados, marking an important step in the growing commercial relationship between both countries.

Additional shipments are expected to reach other Caribbean markets, including Antigua and Barbuda, the British Virgin Islands and St Lucia.

Barbados Pharmaceutical Inc. is also collaborating with AMA-MED and Barbados-based Lenstec to explore opportunities for expanding the export of Barbadian medical technology to Nigeria.

In another related development, Barbados enacted legislation in June 2026 to establish the Barbados Medical Products Authority, with regulatory and institutional implementation currently ongoing.

The proposed pharmaceutical manufacturing plant is expected to serve as a foundation for broader industrial cooperation between Africa and the Caribbean, particularly in pharmaceutical production, technology transfer, professional training, regulatory development and access to international markets.

The project will now proceed through feasibility studies, financing arrangements, regulatory approvals and construction planning, ahead of its targeted commencement of production in 2029.

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