The Potential Benefits of Herbal Medicine Export for Nigeria’s Economy

Introduction

The President of the Nigeria Labour Congress (NLC), Joe Ajaero has urged the Federal Government to explore the huge financial gains exportation of herbal medicines could attract to the nation’s economy by legalising and exporting it. Herbal medicine has the capacity to generate trillions of Naira. Ajaero received the newest member of the NLC, the National Association of Herbal Medicine Employers (NAHME) in Abuja and stressed the importance of integrating herbal medicine into the country’s mainstream health system to boost access to healthcare services.

Background Information

Herbal medicine has been in use since prehistoric times, and more people are incorporating it into their daily lives as a way of preventing and treating diseases. It is the oldest and most prevalent form of medicine in the world. At present, most Nigerian patients visit orthodox hospitals for cure with artificial drugs. The World Health Organization (WHO) reports that over 80% of people worldwide rely on herbal medicines for their primary healthcare needs.

Benefits of Herbal Medicine

Herbal medicine has the potential to provide health care services at an affordable cost to a large population. It is accessible, readily available, and affordable than most synthetic drugs. It is non-intrusive and has fewer side effects when compared to some synthetic drugs. Herbal medicine is more effective against some illnesses such as chronic pain and cancer.

Efforts to Legalize Herbal Medicine in Nigeria

The government of Nigeria should formalize traditional medicine by creating a legislative framework for the herbal medicine industry. Traditional herbal medicines should be researched and tested to international standards to ensure that they are safe, effective and of high quality. This will go a long way in legitimizing traditional medicine and creating avenues for exporting herbal medicine.

The Economic Benefits of Exporting Herbal Medicines

Exportation of herbal medicine has the potential to be a high-income earner for Nigeria. Countries like China and India have been earning millions of dollars in exporting their traditional medicine. Unexplored medicinal plants and herbs in Nigeria could also be used as raw materials for the production of herbal medicines. Exporting Nigerian herbal medicines could create jobs, generate government revenue and reduce the reliance on oil as the primary source of income for Nigeria.

Challenges of Exporting Herbal Medicines in Nigeria

The exportation of herbal medicine comes with its challenges, including regulatory issues, cultural differences, and high competition from developed countries. Regulatory frameworks must be established to ensure that exported herbal remedies are safe for human consumption. The government must also initiate measures to protect intellectual property rights in order to boost investors’ confidence.

Conclusion

The use of herbal medicine in healthcare has been in existence for ages, and Nigeria has a vast array of medicinal plants that has not been fully utilized. The government must put in place mechanisms to protect, regulate and standardize the production of herbal medicine in Nigeria.

Originally Post From https://newtelegraphng.com/revenue-generation-nlc-tasks-fg-on-trillion-naira-herbal-medicine-exportation/

NLC Urges FG to Boost Economy with Billions in Herbal Medicine Exportation