This is a detailed guide on how to register a pharmacy in Nigeria.
The pharmacy business is one of the most lucrative ventures anybody can go into.
Although the process of setting up a pharmacy business is very rigorous, the returns are worth it.
It does not matter your profession, you can own a pharmacy even as an engineer if you follow the right steps on how to register a pharmacy and adhere to the instructions of the Pharmacist Council of Nigeria.
This article aims at educating you on how to register a pharmacy in Nigeria, it is a step-by-step guide that is easy to follow.
Pharmacy Business In Nigeria
The pharmacy business is one of the most lucrative businesses to venture into in Nigeria.
Drugs are like food, the way people eat food every day is the way some people take drugs every day.
The percentage of people who do not take Drugs in Nigeria is less compared to those who take them.
Malaria drugs are in high demand and other essential drugs like vitamins, enhancers, and drugs for chronic sicknesses too.
Moreover, drugs are not the only commodities sold in the pharmacy in Nigeria, other health products are sold there too.
In Nigeria, people are not just allowed to startup a pharmacy, there is a body called the Pharmacists Council of Nigeria that is charged with the responsibility for regulating and controlling Pharmacy Education, Practice, and Training in all aspects.
The PCN is responsible for the authorization of training institutions, registration and licensure of all Pharmacists, Pharmaceutical Premises (Manufacturing, Importation, Distribution, Wholesale, Retail, Hospital Pharmacies) as well as the issuance of Permit to Pharmacy Technicians and registration and Licensure of Patent and Proprietary Medicine Vendors.
Also see: 12 Profitable Businesses To Start With 100k In Nigeria
Products You Can Find In A Pharmacy
Drugs are not the only things sold in a pharmacy, below are some of the products you can find in a pharmacy
- Prescription Drugs
- Nonprescription Drugs
- Toiletries
- Vitamins and Minerals
- Medical Equipment, etc.
Types Of Pharmacy
People operate different kinds of pharmacies and they are:
- Community pharmacy
- Hospital pharmacy
- Clinical pharmacy
- Industrial pharmacy
- Compounding pharmacy
- Consulting pharmacy
- Ambulatory care pharmacy
- Regulatory pharmacy
- Home care pharmacy
How Much Does It Cost To Open A Pharmacy In Nigeria?
Opening a standard pharmacy in Nigeria is very expensive, especially if you are not a pharmacist.
Presently, things are very expensive, and opening a pharmacy will cost millions of Naira.
Below is the breakdown of how the money is going to be spent.
Registration
Registration of a pharmacy is not free, you will spend lots of money to register your pharmacy with the corporate affairs commission and pharmacy council of Nigeria.
Also see: How To Register A Business Name In Nigeria
Rent
Depending on your location, you might spend a huge amount of money on rent. The location of your pharmacy matters; it should be beautiful, clean, and easily accessible.
Products
Stocking your pharmacy with original drugs and other health products needs a whole lot of money. If you do not have enough money to stock your pharmacy with a variety of drugs and other health products, then you do not need to begin the registration process.
Computer And Other Appliances
computer is essential in a pharmacy for the documentation of stocks and prices. it also aids in the easy operation of the pharmacy.
Furniture and fittings
Your pharmacy needs beautiful furniture and fittings, and beautiful and long-lasting furniture is expensive.
CCTV
Although it is not mandatory to install a CCTV in your pharmacy, you need it to monitor what is going on in the pharmacy.
How To Register A Pharmacy In Nigeria
There are two main registrations to carry out when registering a pharmacy. You would have to register with the Corporate Affairs Commission and the Pharmacy Council of Nigeria.
The Pharmacy Council of Nigeria only registers trained pharmacists and they oversee everything regarding the establishment and management of pharmacies in Nigeria.
Do not panic about being a pharmacist before you can register with the PCN, like I said earlier, you can own a pharmacy without being a pharmacist.
The only way to register your pharmacy as a non-pharmacist is to employ the services of a licensed pharmacist to take charge of the registration process.
After the registration, you would still need to employ a pharmacist to work for you because a pharmacist provides patients with relevant information on drugs and medicinal products, and also discuss with PCN officials from time to time on some matters.
How To Register A Pharmacy In Nigeria With Corporate Affairs Commission
It is mandatory to register your business name and your business with the corporate affairs commission.
Your pharmacy cannot exist without a name, so you must come up with a name for your pharmacy.
Moreover, your brand name is your identity, it stands your pharmacy out amongst other pharmacies.
However, it’s illegal in Nigeria to name and operate a business without registering the business name, if caught, you could be penalized.
However, below are the documents for business name registration with the Corporate Affairs Commission.
- 2 recent passport photographs
- 2 business names ( one will serve as an alternative if the other has already been registered by someone else)
- Details of a partner (your partner can be anyone you trust; ideally, your wife or child)
- Your partner’s passport photograph
- Your address
- The company’s address
- Phone number
- Other basic information regarding yourself and your partner (like local Government Area, etc.).
To proceed with your business name registration, you must first of all check for the availability of the business name on the official company registration portal to ensure that the business name is not used by someone else.
If the name you provided has not been used, it is necessary you reserve the new name by submitting it.
After that, complete the pre-registration form with your Name Availability Code and upload relevant registration documents online using the Company Registration Portal.
After uploading your documents, it is mandatory you pay your filing fee. You can check the Fees for their services here
Finally the file changes to your existing business name, and you are done with business name registration.
Moreover, you do not need the services of a legal practitioner to assist you in registering the name of your pharmacy with the corporate affairs commission.
After registering your business name, you will now proceed to register your business.
To register your business, go back to the home page and search for register a company.
Click on it and insert the availability code you were given during your company’s name registration.
After inserting the availability code, the approved company name will be displayed and you click the action dropdown box beside it and click register.
When you click register, a form would be displayed on the screen, fill it carefully and click continue to proceed.
The next form will require the company’s information, like the location of the company and what the company is all about.
Next is the detail of the company’s directors. Add the details of your company’s director and click save.
When you save it, a list of all directors you added will be displayed, you can edit or delete the names anytime.
The next thing to do is to fill in the resulting form for the secretary of your company if you have one.
Next is the form for the allotment of shares (that’s where you add shareholders of the company). Click on add new shareholders and fill in the details from the resulting form.
After that, a list of all the shareholders added will appear. You can always delete or edit them.
The next step is to add the memorandum and articles of association.
After that, a preview of your registration details will be displayed, you need to go through the whole preview and make sure every detail is correct.
When you are sure you’ve provided the right information, you click on payment options and make your payment
How to register a pharmacy In Nigeria with the Pharmacist Council Of Nigeria
To register a retail, distribution, or importation pharmacy in Nigeria as a non-pharmacist, it is necessary to employ the services of a fully registered pharmacist who has completed his/her National Youth Service Corps (NYSC) primary assignment and has an NYSC Discharge Certificate or Exemption Certificate.
The Pharmacist is expected to be up to date with the Mandatory Continuing Professional Development (MCPD) program of the Pharmacists Council of Nigeria (PCN).
Below are the steps involved in registering a pharmacy with the Pharmacist Council of Nigeria
Find a Good Pharmacy Location
The location of your pharmacy matters. To proceed with the registration of your pharmacy, it is advisable to choose a place that meets the standards of the PCN.
Write a Location Approval Letter to PCN
The PCN must approve your location before you proceed.
At this point, if you are not a pharmacist, it is mandatory to employ the services of a superintendent pharmacist.
However, approval of location is not free, you will have to pay an approval fee.
Set Up the Store
You can set up your store following the standards of the PCN once your location is approved. You can set it up with furniture, electronics, fire extinguisher, etc.
Apply For The Registration Of Pharmacy Premises With The PCN
After setting up your store, it is necessary you apply for the registration of new pharmacy premises.
The premise will be visited and inspected by PCN officials to be sure that the place meets the requirement before authorizing you to register.
Moreover, for the registration of new retail, distribution, and importation, the below documents are to be submitted to the registrar, Pharmacists Council of Nigeria through the director of pharmaceutical services of the state where the pharmacy is to be situated.
1. Application letter to register the premises.
2. Duly filled Form B (PCN Application form for registration of premises)
3. Photocopy of annual license to practice/application for retention of name on the Pharmaceutical Register (Form J)
4. Specified inspection and registration fees in Bank Draft payable to the Pharmacists Council of Nigeria.
5. Photocopy of letter of resignation from previous employment (if applicable)
6. Letter of acceptance of resignation (if applicable)
7. Letter of appointment in the new premises where applicable
8. A legal agreement between the Superintendent Pharmacist and his employer where applicable
9. Company’s Certificate of Incorporation (Evidence of registration of business name is acceptable from Pharmacist-owned retail premises)
10. Certified copy of article and Memorandum of Association
11. Certified copies of particulars of Directors as issued by the Corporate Affairs Commission.
12. Photocopy of NYSC Discharge or Exemption Certificate where applicable
13. Letter of undertaking by the Superintendent Pharmacist to the effect that he has only one pharmaceutical job.
14. Letter of undertaking by the Managing Director of the Company to the effect that all pharmaceutical business will be left under the direct, personal control and management of the Superintendent Pharmacist.
15. Pharmacist’s inter-state movement Form (where applicable)
16. There must be a Pharmacist on the Board of Directors.
The application must be accompanied by the Current Annual License of the Pharmacist Director.
However, once the pharmacy is registered, you will receive all the documents and then go ahead with stocking the pharmacy with genuine products from credible suppliers.
Moreover, if your premise is not approved, you would have to write an appeal letter to the Pharmacist Council of Nigeria (PCN).
That is all on how to register a pharmacy in Nigeria, I hope it helps