The Federal Competition and Consumer Protection Commission has commenced an inquiry into the high cost and variation in the prices of drugs in the country.
The Executive Vice Chairman of the Commission, Tunji Bello, 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.
Mr Bello was represented by the FCCPC’s Director of the Surveillance and Investigations Department, Boladale Adeyinka.
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.
Mr Bello said the cost of medications had risen significantly over the past year, which made it difficult for consumers to afford the treatment they needed.
He said, “We believe that this forum will be the basis for recommendations and ways 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 healthcare system.
”The commission has received consumer complaints regarding the variation and high costs of the same drugs in different markets.’’
The President of the Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, said that access to affordable and quality medicine was the fundamental pillar of healthcare.
Mr Tanko, represented by the Chairman of the Abuja chapter of PSN, Salamatu Orakwelu, said that collaborative efforts between policymakers, health care professionals, and industry players were critical in 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.
Mr Tanko said, “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.’’
A pharmacist and National Chairman, Association of Community Pharmacists of Nigeria, Ambrose Ezeh, said that healthcare services should also be considered to achieve a robust health care system in the country.
”When we talk about patients, healthcare services should also be mentioned because there are a lot of things that contribute to a perfect healthcare system and not just drugs,” he said.
Speaking on factors contributing to the high cost of medications, Mr Ezeh said that 70 per cent of raw materials used in drug production were imported.
He said that the foreign exchange rate and electricity tariffs were major contributors to the high cost of medications.
He stated, “Local manufacturers source most of their materials outside the country. Even starch to produce paracetamol is imported.’’
Mr Ezeh appealed to the government to subsidise energy for drug manufacturers in the country to cut prices.
A pharmacist and representative of the Society for Family Health, Abuja, Osaretin Asowata, said that the society would support any initiative or steps aimed at making not just medicines but healthcare more affordable and accessible to Nigerians.
Other health sector stakeholders from different pharmaceutical stores and companies attended the event.