The Federal Government has launched a strategic initiative aimed at diversifying the economy and advancing healthcare innovation.
The move seeks to unlock the economic and therapeutic potential of Nigeria's rich biodiversity through the development of the phytomedicine value chain.
Dr Iziaq Adekunle Salako, Minister of State for Health and Social Welfare, in Abuja, inaugurated a ministerial committee to drive the initiative.
Salako stated that the country stood at the threshold of transforming its vast reservoir of medicinal plants into a dynamic source of economic growth and improved healthcare delivery.
He emphasised that while Nigerian communities had long relied on medicinal plants for traditional healing, the resources had yet to be fully harnessed to benefit the broader economy and health system.
The new Phytomedicine Value Chain Initiative, he noted, was designed to shift the narrative by integrating traditional medicine into formal economic and healthcare structures.
"This initiative is both a health and socio-economic policy.
"It supports the administration's broader goals of achieving Universal Health Coverage, creating jobs, and driving economic diversification," Salako said.
According to him, commercialising Nigeria's phytomedicine sector will generate employment in areas such as plant conservation, cultivation, harvesting, and industrial-scale production of herbal medicinal products.
This, he added, would enable the country to claim its share in the rapidly expanding global phytomedicine market.
"A key component of the initiative is the newly inaugurated ministerial committee.
"It is tasked with developing a comprehensive commercialisation framework, proposing policy reforms, and establishing robust regulatory systems to ensure safety, efficacy, and a conducive business environment," he said.
Also speaking at the event, Dr Obi Adigwe, Director General of the National Institute for Pharmaceutical Research and Development NIPRD, underscored the urgency of Nigeria's active participation in the nearly 500 million dollars global phytomedicine industry.
"For a country blessed with such a wealth of natural resources, continued underrepresentation in this market is no longer acceptable," Adigwe said.
He highlighted that recent presidential policies, such as the Presidential Initiative to Unlock Value Chains and the Executive Order on Pharma and Allied Sectors, had created the enabling environment needed for significant progress.
Adigwe said that NIPRD had laid a solid foundation through years of research and evidence-based strategies, adding that it was to scale up and bring Nigerian phytomedicines to both domestic and international markets.
The News Agency of Nigeria NAN reports that phytomedicine refers to medicinal products derived from plants and plant extracts such as roots and barks.
They are used in the prevention, treatment, and management of various diseases such as malaria and diabetes.
In Nigeria, several plants are used in traditional medicine and are gaining recognition for their commercial and therapeutic potential.
Common examples include neem leaf extract for the treatment of ulcer and bitter leaf and scent leaf for the management of respiratory conditions.
Globally, phytomedicines such as Echinacea and Ginseng are recognised for their immune-boosting and energy-enhancing effects, highlighting the immense opportunities for integrating traditional remedies into modern healthcare and economic systems.