Vanguard and BusinessDay reported Emzor Pharmaceutical Industries Ltd. founder and CEO Stella Okoli said she had stepped down as group managing director, with Uzoma Ezeoke now managing director amid API expansion.
Okoli made the remarks at the eighth Nigeria Pharma Manufacturers’ Expo, the outlets reported. Emzor’s public leadership page identifies Okoli as founder and CEO but does not name Ezeoke.
The planned plant in Sagamu, Ogun State, is intended to produce active pharmaceutical ingredients (APIs) for antimalarial medicines. APIs are the active substances that produce a medicine’s therapeutic effect. The European Investment Bank (EIB) identifies Emzor as the project promoter and records a €13.85 million loan signed Dec. 21, 2022. The bank estimates the project’s total cost at about €23 million.
The EIB says local production is intended to reduce reliance on imported pharmaceutical inputs and improve supply security in Nigeria and West Africa. It cites an underdeveloped market, limited skilled labor and the small scale of manufacturers among factors behind underinvestment in local API production. The EIB describes the facility as intended to be Nigeria’s first API plant, while FMDQ calls it Africa’s first full-scale antimalarial API plant.
FMDQ Exchange announced Aug. 19, 2026, that Emzor Pharma Funding SPV PLC had listed a ₦26.70 billion bond with a five-year term and a 19% coupon. The exchange said the proceeds would support working capital and manufacturing expansion. Emeka Okoli, the SPV’s board chairman, said the funds would also support completion of the API plant. FMDQ’s issuer record gives May 15, 2026, as the issue date and May 15, 2031, as the maturity date, separate from the August listing announcement.
Emzor’s careers page advertises production, research and development roles tied to the Sagamu facility. The postings do not give a commissioning date.
