Dr. Stella Chinyelu Okoli, founder of Emzor Pharmaceutical Industries Limited, has stepped down as managing director of the Nigerian pharmaceutical company, with pharmacist Uzoma Ezeoke appointed as her successor.
Ezeoke previously served as the company’s executive director in charge of general duties, human resources and finance. He is now expected to oversee the company’s operations as it pursues its expansion plans and efforts to strengthen local drug manufacturing in Nigeria.
However, Okoli will remain the founder and chief executive of Emzor, continuing her involvement in the company she established decades ago.
The leadership change was disclosed at the 8th Nigeria Pharma Manufacturers’ Expo in Lagos, where Okoli also called on the Federal Government to introduce more policies and incentives to support local pharmaceutical manufacturers.
Emzor’s journey began in 1977 when Okoli started with a chemist shop. Over the years, the business grew into one of Nigeria’s established pharmaceutical companies, manufacturing more than 140 products.
The latest leadership transition comes as the company advances plans to begin producing active pharmaceutical ingredients (APIs), the essential substances responsible for the therapeutic effects of medicines.
According to information surrounding the project, the proposed facility could position Emzor as the first company in sub-Saharan Africa to manufacture these ingredients on the planned scale.
The project is particularly significant for Nigeria’s pharmaceutical industry, which relies heavily on imported raw materials, with a substantial proportion of the ingredients used by local drug manufacturers sourced from countries such as India and China.
Local production of APIs could help reduce dependence on foreign suppliers, strengthen the domestic pharmaceutical value chain and improve the country’s capacity to respond to disruptions in international supply chains.
However, the company’s API manufacturing project in Sagamu, Ogun State, has experienced several delays. Initially expected to be completed in 2024, the project was subsequently pushed back to late 2025 and then early 2026. No new commissioning date has been announced in the information available.
The facility has reportedly cost approximately $23 million and is partly supported by a €13.85 million loan from the European Investment Bank.
In August 2026, Emzor also raised N26.7 billion, equivalent to about $20 million, through a five-year bond carrying an annual interest rate of 19 per cent. Part of the proceeds was intended to support the completion of the manufacturing facility.
The investment is expected to play an important role in Emzor’s long-term plans to expand domestic pharmaceutical production and reduce reliance on imported ingredients.
Beyond her business activities, Okoli is also known for her philanthropic work through the Chike Okoli Foundation, established in memory of her late son. The foundation supports initiatives focused on healthcare, youth development and community empowerment.
Her transition from the managing director position marks a new phase for Emzor Pharmaceutical Industries as the company continues to pursue its manufacturing ambitions under Ezeoke’s leadership.
The company’s next major milestone will be the completion and commissioning of its API manufacturing plant, a project that could have wider implications for Nigeria’s pharmaceutical industry and efforts to achieve greater self-sufficiency in medicine production.
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