The value of India's pharmaceutical products exported to oil-rich Nigeria surged to USD 307 million in the financial year that ended in March 2012, Indian High Commissioner to the African state, Mahesh Sachdev said during a pharma exhibition in the country.

The envoy attributed the rise which stands at 35 to 37 per cent, to the fact that Indian products remain the largest source of pharmaceutical supplies to Nigeria owing to demand from consumers.
 Sachdev who spoke during the two-day Indian Pharma Exhibition and Buyer-Seller Meet organised by the Indian High Commission in Nigeria and Pharmaceutical Export Promotion Council ( Pharmexcil) also noted that the high participation during the event which attracted not less than 70 companies was as a result of strong relationship between Nigeria and India.

"As we all know, India's status as Nigeria's first supplier of pharmaceuticals has been earned the hard way over past decades. This privilege symbolises the trust and the faith Nigerian consumers repose in quality and efficacy of Indian medicines," Sachdev said.

Also speaking at the occasion, Paul B Orhii, Director General of Nigeria's National Agency for Food and Drugs Administration and Control (NAFDAC) praised Indian pharmaceutical companies for their steadfastness in insuring that only genuine and superior pharmaceutical products are brought into Nigeria.

Over 700 pharma buyers had attended the previous Expo in Nigeria in March 2011.

This year more than 1,000 buyers attended the event. India is working with NAFDAC and other Nigerian agencies to protect, promote and diversify Nigerian pharmaceutical market.

The two countries signed a Memorandum of Understanding on Cooperation in Pharmaceutical Sector in March 2011.

They have intensified collaboration to prevent counterfeiting of Indian pharmaceuticals.