Stella Okoli has stepped down as group managing director of Emzor Pharmaceutical Industries, the drugmaker she founded as a Lagos chemist's shop in 1977. Uzoma Ezeoke, a pharmacist who was Emzor's executive director for general duties, human resources and finance, now runs the company as managing director. Okoli remains founder and chief executive. The change was disclosed at the 8th Nigeria Pharma Manufacturers' Expo in Lagos, where she urged the federal government to do more to encourage local manufacturers.
The handover comes as Emzor prepares to make active pharmaceutical ingredients, which Okoli said would make it the first company in sub-Saharan Africa to produce them. Nearly all the ingredients used by Nigerian drugmakers are imported, mainly from India and China. The Sagamu plant in Ogun State has been delayed several times, from 2024 to late 2025 to early 2026, and no new commissioning date has been announced. The project has cost about $23 million and is partly funded by a €13.85 million European Investment Bank loan. In August, Emzor raised 26.7 billion naira ($20 million) through a five-year bond paying 19% a year, partly to finish the plant.
Emzor makes more than 140 products. Okoli funds programs on health and youth development through the Chike Okoli Foundation, named after her late son.
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