In a proactive move to address the escalating cost of pharmaceuticals in Nigeria, President Bola Tinubu is poised to sign executive orders aimed at reducing the prices of essential medicines.
The announcement came from the Minister of State for Health, Tunji Alausa, and was conveyed through a post on X by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Wednesday.
This strategic decision is a direct response to the growing concern over the soaring prices of pharmaceutical products, which have placed a heavy financial burden on many Nigerians.
Minister Alausa emphasized that the executive orders are expected to provide immediate relief to citizens, addressing the pressing need for affordable healthcare products nationwide.
The move to regulate pharmaceutical prices through executive orders was first highlighted a month ago by the Minister of Health, Ali Pate. He underscored the necessity of such measures following the withdrawal of major multinational pharmaceutical companies from the Nigerian market, which has further exacerbated the challenge of accessing reasonably priced medicines.
Minister Pate stated, “On what the government is doing regarding the high cost of pharmaceuticals, Mr. President has asked us to come up with a set of Executive Orders that he is going to sign to provide immediate succour to Nigerians about the high cost of pharmaceuticals.”
Alausa reaffirmed the president’s commitment to swiftly addressing the issue, stating, “As we know, the president made a lot of campaign promises to revamp, improve, and put the healthcare system of Nigeria on a sustainable pathway.”
He assured Nigerians that the administration is working on both short-term and long-term solutions to the problem, with the executive orders serving as an immediate intervention to bring down the cost of pharmaceuticals.
The minister urged citizens to remain patient, emphasizing that the costs of pharmaceuticals are expected to decrease significantly in the near future as a result of these measures.
