Nigeria, Barbados plan $32m pharmaceutical plant, production begins 2029
Nigeria and Barbados are partnering to establish a $32 million intravenous (IV) fluids manufacturing facility in the Caribbean country, with production expected to commence in 2029.
The proposed plant, a collaboration between Nigerian pharmaceutical firm AMA Medical Manufacturing, Barbados Pharmaceutical Inc. (BPI) and the African Export-Import Bank (Afreximbank), is expected to produce 12 million units annually in its initial phase.
The project was discussed at the 2026 Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda, as both countries seek to strengthen pharmaceutical manufacturing, improve healthcare security and expand economic cooperation between Africa and the Caribbean.
Under the proposed arrangement, AMA Medical Manufacturing will provide technical expertise in pharmaceutical production, while BPI will facilitate the establishment of manufacturing capacity in Barbados to serve Caribbean and international markets.
The partners are also considering expanding production to other pharmaceutical products, subject to technical, commercial and regulatory assessments.
The initiative is backed by the governments of Nigeria and Barbados, with support from the World Trade Organisation (WTO), as part of efforts to increase local manufacturing capacity, create skilled jobs and reduce reliance on imported essential medical supplies.
Two preliminary agreements have been reached to advance the project: a memorandum of understanding between AMA Medical Manufacturing and BPI, and a project preparation facility term sheet between AMA and Afreximbank.
Afreximbank is developing a financing framework that will include project preparation support, senior debt, working capital and risk-bearing instruments to facilitate the construction and operation of the facility.
Secretary to the Government of the Federation, George Akume, said the partnership reflected Nigeria’s commitment to strengthening economic ties with Caribbean countries through industrial investments.
Akume said the project would enable Nigerian manufacturers to access new markets while promoting technology transfer, pharmaceutical production and employment opportunities.
“Nigeria’s partnership with Barbados reflects our commitment to deepening economic cooperation between Africa and the Caribbean through practical industrial initiatives,” he said.
