The Federal Competition and Consumer Protection Commission (FCCPC) has commenced a probe of the high cost of Blood Pressure (BP) and Diabetic drugs in the country.
The Executive Vice Chairman(EVC) of the commission Tunji Bello said the inquiry was to ensure better medication and healthcare delivery, reports The Nation.
He spoke at a stakeholders engagement in Abuja yesterday.
The EVC, represented by Boladale Adeyinka, director of Surveillance and Investigations, that the high costs of medicines not only make it increasingly difficult for consumers to afford treatment but place a strain on the nation’s health care system.
He said: “We have received complaints regarding the variation and high costs of drugs in Nigerian markets. This inquiry is aimed at identifying factors contributing to disparities in healthcare accessibility and affordability, particularly regarding drug pricing.
“We believe this is crucial to ensuring Nigerians have access to quality and affordable healthcare services. The commission will continue to engage with necessary stakeholders towards protecting consumers from fake and substandard products and services in the country.”
National Chairman, Association of Community Pharmacists of Nigeria, Eze Ambrosia and the President of Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko listed poor infrastructure, drug importation and lack of foreign exchange as some of the factors responsible for high cost and variation in drug prices in the country.
Osaretin Asowata of the Society for Family (SFN) called for a better policy that would further enhance effective healthcare delivery.
The stakeholders’ engagement which is also being attended by representatives of the National Agency For Drugs Administration Control(NAFDAC), federal and state Ministries of Health, the Pharmacy Council of Nigeria and the World Health Organisation (WHO) is expected to come up with recommendations that would bring succour to consumers in the pharmaceutical and healthcare sector.
Other forms of unpaid liabilities are pension arrears and debt obligations like contractor payments and the controversial Paris Club bailout.
Notably, 31 states were said to owe the Central Bank of Nigeria (CBN) N339.9 billion in salary bailout loans taken between 2015 and 2023.
The Bola Tinubu administration, which ended fuel subsidies and unified exchange rates last year, has significantly increased state government allocations, aiming to enable them to manage their liabilities independently.
