President Tinubu to Sign Executive Order Reducing Drug Prices

For the Nigeria’s healthcare sector, President Bola Tinubu is set to sign an Executive Order aimed at significantly reducing the cost of drugs and pharmaceutical products in the country.

The announcement was made by Health and Social Welfare Minister, Muhammed Pate, on Wednesday during the second edition of the Ministerial Press Briefing Series in Abuja.

The move comes in response to the recent increment in drug prices due to the foreign exchange crisis.

The Federal Government has secured a $1 billion grant from Afriexim Bank and foreign partners to support medical industrialisation and the construction of pharmaceutical-grade warehouses in 21 states.

To further enhance healthcare services, the government has recruited 2,497 medical professionals, including doctors, nurses, midwives, and Community Health Extension Workers (CHEWs).

The recruitment drive aims to bridge the gap in the health sector and improve service delivery.

In addition to the Executive Order, the government is looking into the exit of multinational drug firms, like GlaxoSmithKline (GSK) and Sanofi.

The long-term goal is to domesticate imported drugs within the next three years, in collaboration with the Ministry of Trade.

The government has also allocated N50 billion as the first tranche of the Basic Healthcare Fund, a significant increase from N25 billion allocated in 2022.

This investment will help to improve primary healthcare facilities and ensure quality care is accessible to all citizens.

In a bid to strengthen the pharmaceutical infrastructure, the government has initiated the construction of pharmaceutical-grade warehouses in 21 states, with two additional warehouses at the federal level.

The Warehousing Management Information System (WMIS) – M Supply is also being installed in these warehouses to improve efficiency.

The government has made substantial progress in expanding health insurance coverage and increasing the number of health facility deliveries to as high as 230,000 per month.

The recruitment of Skilled Birth Attendants has played a crucial role in this achievement.

As President Tinubu prepares to sign the Executive Order, the future of Nigeria’s healthcare system looks promising, with the potential to provide affordable and accessible care to its citizens.