The Federal Competition and Consumer Protection Commission (FCCPC), has commenced an inquiry into the high cost and variation in the prices of drugs in the country.
Mr Tunji Bello, the Executive Vice Chairman of the Commission, said at the opening of the inquiry with pharmaceutical and healthcare stakeholders in Abuja on Wednesday, that the inquiry was in line with the Commission’s mandate.
Bello was represented by Mrs Boladale Adeyinka, the FCCPC’s Director, of the Surveillance and Investigations Department.
He said the inquiry was aimed at identifying factors contributing to the disparities in healthcare accessibility and affordability, particularly regarding blood pressure and diabetes medications.
Bello said the cost of medications had risen significantly over the past year which had made it difficult for consumers to afford the treatment they needed.
”We believe that this forum will be the basis for recommendations and way forward and also ensure that Nigerians have access to quality and affordable healthcare services.
”The high cost of drugs not only affects patients’ health outcomes but also places a strain on our health care system. The Commission has received consumer complaints regarding the variation and high costs of the same drugs in different markets,” he said.
The President, the Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, said that access to affordable and quality medicine was the fundamental pillar of healthcare.
Tanko, represented by Salamatu Orakwelu, the Chairman, the Abuja Chapter of PSN, said that collaborative efforts between policymakers, health care professionals and industry players were critical to tackling challenges and safeguarding patients’ wellbeing.
He said that PSN would support initiatives that would promote price stability, enhance drug accessibility and strengthen the National Health Insurance Authority (NHIA) for the benefit of all Nigerians.
”As pharmacists, we remain committed to ensuring equity, transparency and sustainability in the pharmaceutical supply chain. Together, we can build a health care system that truly serves the people,” Tanko said.
Ambrose Ezeh, a Pharmacist and the National Chairman, the Association of Community Pharmacists of Nigeria, said that healthcare services should be also considered to achieve a robust health care system in the country.
”When we are talking about patients, healthcare services should also be mentioned because there are a lot of thing that contribute to a perfect healthcare system and not just drugs,” he said.
Speaking on factors contributing to the high cost of medications, Ezeh said that 70 per cent of raw materials used in drug production were imported.
He said that foreign exchange rates and electricity tariffs were major contributors to the high cost of medications.
”Local manufacturers source most of their materials outside the country. Even starch to produce paracetamol is imported,” he said.
Ezeh appealed to the government to subsidise energy for drug manufacturers in the country to help bring down prices.
Osaretin Asowata, a Pharmacist and representative of the Society for Family Health (SFH) Abuja, said the Society would support any initiative or steps aimed at making not just medicines but healthcare more affordable and accessible to Nigerians.
NAN reports that other health sector stakeholders from different pharmaceutical stores and companies attended the event.
For a better society
Follow us across our platforms:
Instagram – https://www.instagram.com/championnewsonline/
Facebook – https://web.facebook.com/championnewsonline
LinkedIn – https://www.linkedin.com/company/champion-newspapers-limited/
https://x.com/championnewsng/
You can also like and comment on our YouTube videos.
https://youtu.be/QIBfD1tT80w?si=R4Qf3so2LxYu3GC2
