The Pharmaceutical Society of Nigeria (PSN), Lagos State chapter, has raised concerns over the persistent rise in the cost of drugs, despite federal government policies aimed at making essential medicines more affordable.
Speaking at the opening ceremony of the PSN Scientific Week in Lagos, the State Chairman, Mr. Oyekunle Babayemi, said that President Bola Tinubu’s June 2024 executive order which was designed to reduce drug prices has failed due to weak implementation and deep-rooted systemic problems.
According to him, while the government’s intentions were commendable, Nigerians are now grappling with unprecedented increases in drug prices and, in some cases, a scarcity of life-saving medications.
Mr. Babayemi recalled that the PSN had previously cautioned the government and the Coordinating Minister for Health, Professor Ali Pate, that drug prices could not be slashed in the short term through executive orders, given that the pharmaceutical value chain remains heavily dependent on imports.
He further accused key regulatory and enforcement agencies including NAFDAC, the Nigeria Customs Service, and the Standards Organisation of Nigeria (SON) of failing to act decisively, thereby allowing Nigerians to be continually short changed.
The PSN chairman therefore urged President Tinubu to urgently set up a Presidential Committee on the Pharmaceutical Sector, to be chaired by a registered pharmacist, in order to design and implement sustainable, long-term solutions to Nigeria’s drug pricing crisis.
Writing by Martina Ogbonna