Nnamdi Okafor is a highly skilled professional with decades of experience in administration, marketing and leadership. He is the Managing Director of May & Baker Nigeria Plc.
A trained Pharmacist with vast knowledge in the healthcare, food processing and fast moving consumer goods, Nnamdi indeed is a force to reckon with in the healthcare sector of Nigeria Economy.
Prior to his appointment as the Managing Director/CEO of May & Baker Nigeria Plc, Nnamdi was the Executive Director/General Manager, Foods Division, Ota, with responsibility for the operations of the food processing division of the company. Mr. Okafor who has been with May & Baker since 1985, has held several other positions in the company including, Executive Director, Sales and Marketing with responsibility for locally manufactured products.
He has also served on several senior positions such as District Sales Manager, Training Manager, Regional Sales Manager, National Sales Manager, Head, Sales & Marketing and Head, Sales & Distribution.
Mr.Okafor holds a Bachelor of Pharmacy (Honours) degree from the University of Ife, Ile-Ife (now Obafemi Awolowo University, Ife) as well as Master of Business Administration (MBA) in Marketing from ESUT Business School, Lagos.
He is a Fellow of the Pharmaceutical Society of Nigeria, Member of the Nigerian Institute of Management and an alumnus of the Lagos Business School.
Under his watch, May & Baker Nigeria Plc has recorded consistent revenue growth for several years till date.
In its half year financial report for the period ended June 30, 2018, May & Baker posted N4.61 billion revenue, which is 3.21% growth compared to the its previous close of N4.47 billion in second quarter of 2017.
With positive liquidity position and positive leverage metrics, the firm stands strong, which is the drive that boosts investors’ confidence.
May & Baker, Nigeria Plc was founded on September 4, 1944 as Nigeria’s first pharmaceutical company. It has its origin in England, the United Kingdom in 1834.
In 1979, following the indigenisation decree which required that foreign interests in companies operating in Nigeria be of a minority nature, May & Baker, United Kingdom relinquished 60 per cent of its equity holding in May & Baker Nigeria to Nigerians while retaining 40 per cent. The company’s name was changed to Embechem Nigeria Limited but this was dropped later and the name reverted to May & Baker Nigeria Limited.
May & Baker Nigeria Limited became a publicly quoted company following its listing by introduction on the Nigerian Stock Exchange on November 10, 1994 and became May & Baker Nigeria Plc.
In 2002 the foreign partners decided to divest. However, represented by Aventis SA, France, they remained technical associates of May & Baker Nigeria Plc. Following the merger of Aventis and Sanofi, another French firm to form Sanofi Aventis in 2004, the technical relationship transferred between May & Baker Nigeria Plc and Sanofi-Aventis of France. But that relationship was renegotiated in 2005 to give May & Baker Nigeria, the leeway to have its own products.
The company thereby began an aggressive expansion and diversification programme since 2005 which has culminated in the creation of new businesses and subsidiaries. In 2005, Biovaccines, a local vaccine production subsidiary was set up in partnership with the Federal Government of Nigeria. In 2006, the company constructed a multi-billion naira food processing factory, constructed a local plant for the production of anti-retroviral drugs in Nigeria while the construction of a World Health Organization Standard Pharmaceutical production facility was constructed and commissioned on June 27, 2011
Over the years, May & Baker has continued to improve its year-end financial performance. The firm’s financial performance has not escaped the watchful eyes of the Nigerian Stock Exchange. In 1996, barely two years after getting listed, the company’s sterling performance was awarded with the prestigious Nigerian Stock Exchange Annual President’s Merit Award in the Healthcare/Chemicals and Paints category.
May & Baker again carted home the coveted prize in 1997, this time in the Healthcare/Pharmaceutical category. It has since then won the award several times.
In 2004, May and Baker won the Gold Award of the Lagos State Ministry of Health in Occupational Health and Safety.
The future outlook of the company is increasingly looking brighter as the company has emerged from a major transformation that has enabled it to diversify into foods and vaccines production. This transformation has also seen the company align its processes to the needs and expectations of its customers with greater efficiency and profitability.