Gom Mirian
The federal government has announced plans to issue an executive order aimed at regulating pharmaceutical prices and making essential medicines more affordable for citizens.
Coordinating Minister of Health, Ali Pate, revealed this information to State House correspondents after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential Villa in Abuja.
Pate highlighted the increasing costs of drugs, which have made life-saving commodities inaccessible to many Nigerians. He assured that the executive order will be implemented soon to alleviate the burden of high drug costs on Nigerians.
He emphasised that the executive order seeks to support local drug manufacturers and ensure fair pricing of essential medicines, especially in light of the exit of major multinational pharmaceutical companies from Nigeria, which has reduced competition in the market.
The decision to issue the executive order aligns with President Tinubu’s commitment under the Renewed Hope Agenda to prioritize healthcare access. Pate stated, “The President intends that we begin to take steps to enable the local manufacturers to survive, to thrive and to deliver the basic commodities that are key to saving lives.”
He also mentioned that the executive order will be developed in collaboration with the Attorney General of the Federation to address the concerns about the escalating prices of pharmaceuticals and other medical devices.
