High energy cost, forex, 33% interest rates threaten drug manufacturing – May & Baker MD
The Managing Director and Chief Executive Officer of May & Baker Nigeria Plc, Pharm. Patrick Ajah, has said the company’s monthly spending on energy to power its factory has risen from about N65 million before 2023 to between N160 million and N175 million, highlighting the rising cost of manufacturing in Nigeria. Ajah, said the increase…