President of the West African Postgraduate College of Pharmacists, Prof Fola Tayo, has advocated death sentence for those found guilty of producing and selling fake drugs.

Prof Tayo, who is also the Pro-Chancellor for Caleb University, spoke in Lagos at a Colloquium organised in celebration of the 80th birthday of the Chairman of Bond Chemicals Industries, Chief Theophilus Omotosho in Lagos.

He said the pharmaceutical industry is worth 200 billion dollars, urging government to ban the importation of luxury drugs that can be produced locally.

Tayo highlighted challenges affecting the sector as high interest rates imposed on producers; a lack of pragmatic implementation of policies; lack of moratorium have caused manufacturers slow pace of production and counterfeiting of NAFDAC numbers.

He said: “the manufacturing industry should be seen as a pivot to take Nigeria to greatness, by producing medicines such as anti-malaria in large quantity will yield immense returns to government. In terms of law and practice of Pharmacy, Nigeria ranks the highest, yet, compliance is zero.”