Nigeria and Barbados are teaming up with the African Export-Import Bank (Afreximbank) to develop a $32 million pharmaceutical manufacturing project. The initiative aims to enhance medicine production, strengthen regional health security, and promote trade between Africa and the Caribbean. The project involves establishing an intravenous (IV) fluids manufacturing facility in Barbados with an initial annual production capacity of 12 million units.
The partnership was formalized through agreements signed on the sidelines of the 2026 Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda. The collaboration involves the governments of Nigeria and Barbados, Barbados Pharmaceutical Inc. (BPI), Nigerian pharmaceutical manufacturer AMA Medical Manufacturing, and Afreximbank. As part of the arrangements, BPI and AMA Medical Manufacturing signed a memorandum of understanding.
AMA Medical Manufacturing and Afreximbank also signed a Project Preparation Facility (PPF) term sheet, marking the first step towards a comprehensive financing arrangement. The proposed financing structure is expected to combine project preparation support with senior debt, working capital, and risk-bearing instruments to facilitate the establishment of the facility. Production is targeted to commence in 2029.
Barbados Prime Minister, Mia Amor Mottley, welcomed the partnership as a crucial step towards economic resilience and practical cooperation between Africa and the Caribbean. She emphasized that the partnership demonstrates the determination of African and Caribbean nations to build productive capacity, strengthen health security, and create opportunities for future generations.
Nigeria’s Secretary to the Government of the Federation, Senator George Akume, noted that the partnership reflects Nigeria’s commitment to strengthening economic cooperation with Caribbean countries through practical industrial initiatives. He believes that combining Nigerian manufacturing expertise with Caribbean investment opportunities will strengthen healthcare production, expand trade, and create opportunities for technology exchange and skills development.
Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, also welcomed the initiative, describing it as an example of trade and investment driving South-South cooperation and diversifying pharmaceutical supply chains. She recalled that the COVID-19 pandemic exposed the risks of concentrating essential medical production in a limited number of countries.
The partnership is expected to expand pharmaceutical manufacturing, connect the industrial capabilities of Africa and the Caribbean, and enhance regional health security. The project’s success could serve as a model for future collaborations between African and Caribbean nations, promoting economic cooperation and strengthening healthcare systems.
Key points
- The project aims to establish an IV fluids manufacturing facility in Barbados with an initial annual production capacity of 12 million units.
- The partnership involves the governments of Nigeria and Barbados, BPI, AMA Medical Manufacturing, and Afreximbank.
- Production is targeted to commence in 2029, subject to feasibility assessments, financing arrangements, regulatory approvals, and construction processes.
