Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, has said the Federal Government will soon issue an Executive Order to curb escalating drug prices in the country.
Prof. Pate, who disclosed this yesterday, explained that the Executive Order is a short-term goal in reducing drug prices.
He added that the Federal Government’s mid to long-term goals in reducing drug prices involve the domestication of imported drugs within the next three years in collaboration with the Ministry of Industry, Trade and Investment.
Prof. Pate, who disclosed this at the third edition of the ministerial press briefing series initiated by the Ministry of Information in Abuja, noted that pharmaceutical-grade warehouses at the federal level will be commissioned in April 2024.
Recall that according to findings, some medications have skyrocketed as much as 200 to 300 percent. Also, recall that Minister of State for Health and Social Welfare, Dr. Tunji Alausa had last week said that President Bola Tinubu would soon sign an executive order to provide immediate succour to Nigerians about the high cost of pharmaceuticals. He said the high cost of pharmaceuticals in the country is due to inadequate planning in the past.
Speaking yesterday, 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.
He stated that the implementation of WMIS is expected to significantly enhance accountability and transparency, ensuring the potency of public health medicines and other health commodities.
He added that the Government’s efforts to promote medical industrialisation are gaining momentum.
