Lara Adejoro
The Federal Ministry of Health and Social Welfare says an executive order to curb escalating drug prices in the country is still awaiting the assent of President Bola Tinubu.
The ministry made this known to our correspondent exclusively when the inquiry was made on the update of the executive order.
Lately, market survey showed that prices of some antimalarial drugs increased between 11 per cent to 22 per cent, as well as prices of anti-diabetic drugs, which went up by 20 per cent.
The situation is pushing many patients to skip their life-saving medications.
The Coordinating Minister of Health and Social Welfare, Prof Muhammed Pate, had in February, said the Federal Government would soon issue an executive order to curb escalating drug prices.
Speaking at the third edition of the ministerial press briefing series initiated by the Ministry of Information in Abuja, he explained that the executive order was a short-term goal in reducing drug prices.
Pate explained that the FG’s mid to long-term goals towards reducing drug prices involved the domestication of imported drugs within the next three years in collaboration with the Ministry of Industry, Trade and Investment.
“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,” Pate had said.
Meanwhile, pharmacists in the country demanded details of the executive order.
According to them, the details will determine if the directive will help to crash drug prices in the country.
Stakeholders believe the increasing prices of medications are influenced by foreign exchange, inflation, importation of drugs, the elimination of fuel subsidies, and the exit of GlaxoSmithKline Consumer Nigeria Plc.
In an inquiry sent by our correspondent on the update of the executive order, Pate’s Special Assistant on Media and External Relations, Tashikalmah Hallah, said, “The Executive Order has been developed and vetted. Awaiting Mr President’s assent and signing. After that, it will become public.”
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