Nutrify shows confidence in Nigeria, plans multi-million naira factory

A nutraceutical firm, Nitrify Nigeria, a division of Tolaram Group, which made an investment in the health sector six months ago, says it intends to build a multi-million Naira factory in Nigeria.

Nutraceutical is a word from the combination of nutrition and   pharmaceuticals: It is a class of natural foods designed to support your health in a completely natural way and without side effects.

This is coming while some global corporations are pulling out of Nigeria.

According to regional sales manager for Nutrify Nigeria Ehimenv Oaikhena, the ambitious concept not only satisfies the growing demand for its goods in Africa but also generates employment and stimulates the local economy.

Oaikhena did nothing to disclose the location of the factory when she was interviewed last weekend in Lagos at the Young Pharmacists Group’s health event, which was held in association with Nutrify.

But he explained that the decision was influenced by research, knowledge of the size and market for nutraceuticals in health in Nigeria, familiarity with the country’s regulatory framework, and knowledge of the raw material supply.

Similar to the crude oil industry, in which Nigeria imports refined products and exports crude, Nutrify currently sources its raw materials from various African nations, including Nigeria, but transforms them into finished products in Asia.

According to Oaikhena, the company expects that local production in the upcoming two years will result in more cheap items, taking into account importation logistics and exchange rates.

Oaikhena said, “We source most of the raw materials in Nigeria and Africa. The plan in the next two years is to have the supplements produced here in Nigeria”

According to the regional sales manager, the company now uses roughly 65% local content in its nutraceutical goods supplied throughout Africa because some of its raw ingredients are sourced outside of Nigeria.

Nonetheless, he stated that the organisation intends to raise the local content to 90%, BrandSpur reports.

Oaikhena noted that affordable and suitable medications are the gaps in the market for healthy supplements, but Nutrify is filling these gaps.

“We have been on this journey of the plan to produce supplements for about five years as we did not just wake up to start manufacturing,” he declared.