The Minimal Cost Implication of Establishing a Pharmacy School in Nigeria

Background: Nigeria is arguably known for its robust higher educational system. Despite the extensive educational system, the availability of recognized pharmacy schools remains limited. The slow expansion of pharmacy programs is attributed, in part, to funding challenges confronting tertiary institutions. This highlights stepwise approach of the study, which focuses on equipment and human resources as the initial critical cost factors necessary for establishing an accredited pharmacy school to meet the growing demand for qualified pharmacists in Nigeria. This study investigates the comprehensive cost analysis associated with establishing a new pharmacy school in Nigeria, focusing on procuring essential equipment and recruiting necessary human resources. Methods: Utilizing regulatory requirements as a benchmark, the study employed online market stores to estimate equipment costs. Primary data was collected through an inquiry form to ascertain equipment prices, while secondary data from regulatory agencies and the salary and Wages Commission in Nigeria informed the cost requirements for both physical equipment and human resources (teaching and non-teaching). Results: Findings reveal that the initial equipment investment required is approximately US$303,834. According to regulatory bodies, staffing must be according to student enrollment. Therefore, to launch the school with 25 students, a minimum of 4 lecturers, a technical and administrative personnel across five departments is required. The cost calculation is based on the basic salary structure for teaching and non-teaching staff essential for the school's inception. The projected start-up costs human resources are estimated at $91,485 per year. Conclusion: The total expenditure (equipment and human resources) for establishing a pharmacy school is approximated at $395,319 emphasizing the financial considerations crucial for instituting and sustaining a pharmacy education program in Nigeria.