Buhari sets up new committee to reduce prices of drugs in Nigeria Updated for 2021

82,113FansLike
2,966FollowersFollow
2,690SubscribersSubscribe
82,113FansLike
3,122FollowersFollow
2,690SubscribersSubscribe

Updated: March 2, 2021


President Muhammadu Buhari has directed the setting up of an inter-ministerial committee to fashion out how medicines and livestock drugs can be made available to the Nigerian public at a fraction of the prevailing prices.

Receiving the executive board members of a pharmaceutical company, Graham Foggs Ltd, at State House, Abuja, Friday, the President reiterated his commitment to the improvement of the quality of lives of Nigerians, and then charged the Ministers of Health as well as Agriculture and Rural Development to work with the pharmaceutical company, “short-circuit disruptive bureaucracy, and brief me from time to time.”

[read_more id="2" more="Read full article" less="Read less"]

The company, led by Chief Sam Nda-Isaiah, a pharmacist and newspaper publisher, seeks to make essential medicines and livestock drugs available to the public, at significantly reduced prices.

“It has been established that 70% of Nigerians cannot afford modern medicines produced by multinational pharmaceutical companies due to their high prices,” Nda-Isaiah said, adding that most of the companies operate at less than 30% of installed capacity, “and it has been so for a very long time. The only break was during the Petroleum Trust Fund (PTF) days, when drug manufacturers were achieving 80% of installed capacity.”

Graham Foggs Ltd plans to bring down the prices of most of the commonly used medicines by up to 60%, producing only generic medicines as against patented ones.

“This would be achieved without a single kobo subsidy from government, with Active Pharmaceutical Ingredients (APIs) or bulk raw materials imported from China and India for the approved local production companies in Nigeria,” Nda-Isaiah said.

He noted that the finished products would be sold at fixed prices, to achieve the objectives of the programme, adding: “Millions of jobs would be created across the country as pharmaceutical plants would be operating at near-maximum capacity, and this would be for medicines of all classes including livestock drugs to boost the agricultural sector. The price of every medicine, including those under the health insurance scheme, will come down.”

It will be recalled that President Buhari had earlier in the life of this administration reduced tariff on pharmaceutical raw materials, and increased the one for finished imported products. This was to boost and encourage local production of medicines, for the benefit of ordinary Nigerians.F

[/read_more]

Femi Adesina
Femi Adesina
Femi Adesina, a Nigerian journalist, is the special adviser on media and publicity to Nigerian President, Muhammadu Buhari. This is an official statement from him. The headline might have been adjusted.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

TRENDING

Confidential U.S. government report concludes Ethiopia Prime Minister Abiy Ahmed leading ethnic cleansing in Tigray region

A confidential U.S. government report has concluded that the government of Prime Minister Abiy Ahmed in Ethiopia along with allied militia fighters are leading a systematic campaign of ethnic cleansing in Tigray."Whole villages were severely damaged or completely erased," the report, first obtained by The New York Times, says.It adds that fighters from the neighboring Amhara region of Ethiopia who moved to Tigray...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error: Alert: Content is protected !!
Share
Tweet
Reddit
Pocket
Share
More