One of the greatest mistakes of freedom of speech is the assumption that everyone is entitled to his own opinion. That is dangerous. People should understand that they are only entitled to informed opinion, not otherwise.
For the greatest enemy of knowledge is not ignorance but the illusion of knowledge and the penchant to generously share that illusion.
One such baseless criticism was from one Daniel Etokidem an APC jobber who tried to diminish the future prospect of the syringe factory to the state.
Disposable syringes represent one of the largest product segment as well as the fastest growing one in the world today.
It is expected to progress at a Compound Annual Growth Rate (CAGR) of 8.1% between 2015 and 2023 according to Marketsandmarkets.com. In fact the market is projected to grow from $10.56billion in 2016 to $15.99b in 2021.
In terms of volume, the total number of disposable syringes to be used is expected to cross 47 bn units by the end of 2023.
It is estimated that only about 62% of that projection is being produced presently leaving a need gap of 38%. There is presently only one syringe factory in Nigeria based in Rivers State with a production capacity of about 150m to 200m units.
Even at this capacity it employs at least 200 persons directly outside ancillary employments. The bulk of syringes used in Nigeria are imported.
Akwa Ibom plant is expected to triple this capacity with possibility to hit 1billion unit - mark within its first year of operation. This is feasible given that most of the key players like Becton, Dickinson & Company(US), Terumo Corporation (Japan), Medtronic plc (Ireland), B. Braun Melsungen AG etc are focused on emerging Asia Markets.
The Onna Factory would therefore supply both Nigeria market as well as close the need gap within the West African Sub-Region and beyond.
High prevalence of chronic diseases, rising geriatric population and increasing adoption of safety syringes in Nigeria and Sub-Saharan Africa supports growth in this market in the foreseeable future.
The factory is therefore expected to create at least 300 jobs within its first 24 months of operation as well as boost the state IGR. This is a key step in the government's industrialization policy and should be supported.
James Abang Writes From Atte-Okiuso Village, UrueOffong/Oruko LGA.
No comments: