How Much To Start & Register Pharmacy Store in Nigeria
Starting a pharmacy store in Nigeria which can also be referred to starting chemist stores in Nigeria requires certain licensing and approvals.
It is not enough to stock an apartment with drugs and commence sales of drugs and pharmaceuticals.
Opening a pharmacy shop in Nigeria requires an approval from Pharmacy Society of Nigeria (PSN) and Corporate Affairs Commission.
However if you will be starting a very small scale pharmacy store or chemist store the major approval you will need will be that of Pharmacy Society of Nigeria (PSN).
Across the world and in Nigeria, sales of pharmaceutical products is very lucrative and rewarding.
In Nigeria, citizen are open and are at liberty to set up and run sales of pharmaceutical products or pharmacy stores under the superintendent of professional pharmacists.
What this means is that to open and operate pharmacy stores in Nigeria, non pharmacists must either employ or present certification of professional pharmacist who will surety or superintendent the pharmacy store.
In this post will be discussing how to open pharmacy stores in Nigeria.
Also, to be discussed in this post is how to register pharmacy stores and cost of pharmacy store registration in Nigeria.
This is an information that will be highly significant especially among pharmacists and entrepreneurs who might wish to set up or start pharmacy stores in Nigeria.
How To Register Pharmacy Store in Nigeria
It is a crime to open or operate unregistered or unlicensed pharmacy store in Nigeria.
So, anyone seeking to operate pharmacy shop in Nigeria must register the business with appropriate government authorities so as to avoid penalties.
There basically two major government agencies to register with when starting pharmacy store in Nigeria.These agencies are:
Pharmacists Council of Nigeria
Corporate Affairs Commission
Pharmacy Registration With CAC
Registration of of pharmacy store with corporate affairs Commission just like every other business is simply registering the business with government agency responsible for documentation of businesses in the country and issuance of certificate of incorporation.
This is not necessarily mandatory, however if you wish to register the business name and guide against impositors,then it necessary that your pharmacy store is registered with CAC
Registering your pharmacy shop with CAC is simply to protect the brand and ensure that its identity is not tempered with by other competitors.
How to register pharmacy stores in CAC? simply visit Corporate Affairs Commission office in your state of residence fill out business registration forms with needed data and that is it.
How To Register Pharmacy Store with Pharmacists Council of Nigeria
This is the most important agency and major place to register your pharmacy store or shop when trying to start pharmacy business in Nigeria.
The agency is responsible for regulation and control the practice of pharmacy throughout the Federation and the control of pharmaceutical education in Nigeria.
PCN also undertake the duty of determining standard of knowledge and skill that is to be attained by persons seeking to become pharmacists in Nigeria.
This is the major place to register your pharmacy store in Nigeria.
Steps to Register Pharmacy Store in Nigeria
Below are some steps and processes that are involved in registering pharmacy stores in Nigeria especially when starting pharmacy store or business in Nigeria.
Getting Suitable Location
The location of the pharmacy store must be in a hygienic and conducive environment.
The location must be some meters away from another pharmacy store.
Send Location Approval Letter to PCN
After deciding and getting a location, you will need to write to Pharmacist council of Nigeria for location of approval.
This letter will be accompanied by N10,000.
Build & Equip Pharmacy Stores
At this point, necessary logistics that will aid in the operation of pharmacy store should be put in place.
However, don’t stock in drugs and pharmaceuticals yet.
Apply for Registration of New Pharmacy Premises
This is the final step towards registering or starting new pharmacy store in Nigeria.
Application will be sent to PCN for approval of new pharmacy premises.
At this point, officials of pharmacists council of Nigeria, will visit to ascertain the level of preparedness for running pharmacy in the environment.
Some registration guidelines that will be done includes filling the following forms at PCN office:
- Completed forms B and J
- Certificate of Incorporation
- Memorandum and Article of Association
Certified True Copy of Form Co7 showing the name of the Pharmacist Director
- Appropriate fee in bank draft (the fee will be communicated to you at their office and can be paid online too through remita)
- Inspection report (From DPS or PIC)
- Current Annual License to practice from the Pharmacist Director
- Letter of resignation and acceptance of resignation from the former employer of Pharmacist if previously employed
- Particulars of first Directors of Company
- NYSC discharge certificate for the new pharmacist
Requirements for Registration of Pharmacy Store by Professionals Pharmacy
Steps for starting pharmacy store by certified pharmacist is different for non pharmacists who are starting pharmacy stores.
Procedures for Pharmacists to starts and register pharmacy stores are put down below.
- Application Letter for Premises Registration
- C.A.C Certificate of incorporation (C.A.C Stands for Corporate Affairs Commission)
C.A.C forms CO2 and CO7
Superintendent pharmacist license
- NYSC discharge certificate for a post NYSC pharmacist
- Letter Stating that You have just one full-time pharmacist job
- Pay inspection and registration fee into PCN account
- Duly fill and submit Forms B and J from PCN
Requirements for Registration of Pharmacy Store by Non Pharmacist
For non professional pharmacists who are starting a pharmacy store, below are some of the requirements and registration that that needed to start pharmacy store as non pharmacists.
- Appointment and Acceptance of Appointment Letters of Superintendent pharmacist
- A Letter promising to give the Superintendent pharmacist a free hand
- A legal Agreement between the Superintendent pharmacist and the Managing Director
- Letter informing PCN of appointment of a Superintendent Pharmacist
Cost of Registration of Pharmacy Store in Nigeria
The cost of registering pharmacy stores in Nigeria is dependent on some variables.
Some payments for setting up pharmacy store are static while some others changes from location to location.
It is pertinent to note that for every neighborhood, there are union of pharmacy store operators.
New members are required to pay a stipulated fee to join the union and commence sale of pharmaceutical products.
The cost of registering pharmacy in Nigeria with PCN is between N20,000 to N50,000.
This is How much to register pharmacy stores in Nigeria.
How Much Can Be Used to Start Pharmacy / Chemist Store in Nigeria
Drugs and pharmaceuticals are expensive commodities in Nigeria unlike in western world.
If you planing to open and start a pharmacy store in Nigeria,your budget for starting Pharmacy store in Nigeria shouldn’t be less than N500,000.
A chunk of these money will go into making the necessary registrations and putting the pharmacy store in shape.