Financial Management and Sustainability of Community Pharmacy Businesses in Kano State, North West Nigeria: A Practice Management Review

The sustainability of community pharmacy businesses is fundamental to ensuring consistent public access to pharmaceutical care in Nigerian communities. Financial mismanagement, low profit margins, and operational inefficiencies have led to the closure of numerous community pharmacies across northern Nigeria. This study examined financial management practices and sustainability indicators of community pharmacy businesses in Kano State, North West Nigeria. A cross-sectional survey was conducted among 65 community pharmacy owners or managers across three local government areas in Kano metropolis. Data collected included business registration status, annual revenue estimates, cash flow management practices, credit management with drug suppliers, inventory turnover rates, and adoption of pharmacy business management systems. Findings revealed that 48 percent of pharmacies operated without formal accounting systems, relying on manual records or personal memory. Inventory turnover was below the optimal threshold in 56 percent of pharmacies. Drug supplier credit terms were poorly managed in 42 percent of cases, leading to supply disruptions. Only 28 percent had separate business and personal accounts. Pharmacies with university-trained owner-pharmacists demonstrated significantly better financial management scores. The study recommends integration of pharmacy business management and health economics modules into postgraduate pharmacy programs in Kano. Professional pharmacy associations should also offer financial literacy workshops tailored to community pharmacy owners. Keywords: community pharmacy, financial management, business sustainability, Kano State, pharmacy practice management