The current wave of economic inflation in the country is affecting all sectors in the country including the Pharmaceuticals. Over the past few months the hike in the cost of medicine in the country is nothing short of surprising as pharmaceuticals keep getting costlier at the rates of 100% to 200% higher, even 300%. And this has led to lots of people lacking the needed medications to take care of their health.
The reason for this unreasonable hike in the prices of pharmaceuticals in the country is because of various reasons such as the departure of big pharmaceuticals such as GlaxoSmithKline (GSK) from Nigeria, the unstable currency, hoarding amongst others.
However, this sad situation is not oblivious to the Federal Government of Nigeria as plans have been put in place to curb this unnecessary hike in the price of pharmaceuticals in the country. This was made known by The Coordinating Minister of Health and Social Welfare, Professor Muhammad Pate, during the third edition of the ministerial press briefing series which took place on Wednesday.
Addressing the state of pharmaceuticals in the country, Professor Pate said, ““The rising cost of pharmaceuticals is a pressing concern, and we are taking decisive action to address this issue. An executive order will soon be issued to curb escalating drug prices in the short term, while our mid to long-term goal involves the domestication of imported drugs within the next three years, in collaboration with the Ministry of Trade.
“In a strategic move to fortify the pharmaceutical infrastructure across the nation, the Federal Government initiated the construction of pharmaceutical-grade warehouses in 21 states in collaboration with Drug Management Agencies.
“Two additional warehouses at the federal level are also underway, complemented by the installation of the Warehousing Management Information System– M Supply, in these 21 pharma-grade warehouses. This visionary project commenced in October 2023, is slated for completion in March 2024, with scheduled commissioning in April 2024.”
He further said, “This infrastructure development aligns with our commitment to improving health outcomes for citizens nationwide.
“Furthermore, the government has taken strides in advancing healthcare data management. Essential medicines and narcotics utilisation across the three levels of healthcare have been successfully onboarded onto the National Health Logistics Management Information System platform.
“This decisive step not only strengthens our international image by enhancing medicines reporting but also establishes a robust framework for monitoring and optimising the supply chain. In addition, the Federal Government has led the development of the maiden National Policy on Cosmetics Safety in Nigeria, a crucial policy that will guide the production and safe use of cosmetics in the country.
“Moreover, the development of two Unified Food Safety Training Manuals, focusing on Hazard Analysis and Critical Control Point principles, as well as the requirements for Good Hygiene and Manufacturing Practices along the food supply chain, underscores our commitment to promoting food safety and hygiene practices across the nation.”
Speaking on the progress made so far in improving the health sector of the country he said, “Through strategic partnerships and funding initiatives, we are unlocking the full potential of our healthcare sector. I am pleased to announce that the Ministry has secured a $1bn pledge from Afriexim bank, alongside commitments from foreign partners, to support our endeavours in this regard.”
