Lara Adejoro
The Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate says Pate, says the Federal Government is working on removing all the constraints on the importation of raw materials for the local manufacturing of drugs.
He blamed the rising cost of drugs in the country on the devaluation of the foreign exchange, which is affecting manufacturers’ ability to buy raw materials and equipment.
He also said power supply, technical know-how, technology, supply chain, and the regulatory landscape are affecting the prices of drugs.
The minister disclosed this at a webinar themed, ‘Addressing the escalating costs of medicines,’ organised by TheCable to mark its 10th anniversary.
He stated, “There are two issues underlining what we are observing now. There is the forex devaluation on the supply side, affecting the ability to buy raw materials and equipment.”
The minister noted that financing of healthcare and affordability has been a longstanding issue for more than 40 years, and less than 10 per cent of Nigerians are covered under health insurance.
“This means many fund healthcare out of pocket. Many of us will be thrown into poverty if met with catastrophic health challenges like cancer and kidney failure because we don’t have a viable insurance platform,” he lamented.
Pate, however, pointed out that if Nigeria had built an industrial base to manufacture active pharmaceutical ingredients and pharmaceuticals, there would have been less impact from the global increase in the price of APIs and the supply chains.
He revealed that President Bola Tinubu has directed that the ministry work in collaboration with the private sector to find a solution.
Pate said, “We have had engagements with the pharmaceutical consultative forum and we are finalising an instrument from the government that will affect the fiscal policy constraints on the import of raw materials and manufacturing equipment.
“We are inviting several actors with the technology to partner with our local manufacturers so we have an industrial base as well. We have a viable market and we need to make a head start in that direction. On the demand side, a massive effort is underway to reform the health insurance landscape.
“We believe if we can expand the insurance landscape and have millions covered, the cost of diagnostics and care will not be borne by individuals and households but by a third party. The absence of a third party is why Nigerians are feeling the pinch from the rise in costs.”
The Executive Secretary of the Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria, Frank Muonemeh, on his part, noted that local manufacturers are doing all within their control to stem the rising prices of medicines.
“This is an opportunity for us to reverse the importation of pharmaceutical products,” he added.
The Executive Secretary, Anambra Primary Healthcare Development Agency, Chisom Uchem, raised concern that when people look for drugs and cannot get them, there will automatically be therapeutic failure.
She added, “It’s time for the government to encourage experts to research the use of our local herbal remedies for production.”
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