High drug cost: Oyintiloye begs Tinubu for urgent intervene

An urgent plea has been directed to President Bola Tinubu to intervene promptly in the surge in the prices of essential drugs across the country. Olatunbosun Oyintiloye, a notable member of the All Progressives Congress (APC) in Osun, conveyed this appeal during a conversation with journalists in Osogbo on Sunday.

Oyintiloye emphasized that a significant number of Nigerians were currently unable to afford essential drugs due to exorbitant prices. He attributed the escalating costs to various factors, including the withdrawal of GSK, a major pharmaceutical industry player, high inflation rates, and the devaluation of the Naira, among other influences.

The APC chieftain highlighted that these factors collectively contributed to rendering drugs such as amlodipine, augmentin, paracetamol, exforge, Coartem, and other vital medications financially out of reach for the average citizen. He pointed to a report from the National Bureau of Statistics (NBS) revealing a 68% increase in the value of imported medicines to Nigeria, reaching N81.8 billion between July and September 2023.

Oyintiloye commended President Tinubu’s efforts in revitalizing the economy but stressed the urgent need to intensify actions in the health sector. He expressed concern about the financial strain on individuals and families grappling with the harsh economic conditions, particularly those dealing with chronic diseases like hypertension, diabetes, and tuberculosis.

In proposing solutions, Oyintiloye suggested addressing forex challenges, eliminating duty taxes on medications, promoting local production, and fostering a more favorable environment for pharmaceutical companies. He also acknowledged the efforts of the Minister of Health and Social Welfare, Prof. Mohammed Pate, in engaging with representatives and CEOs of pharmaceutical firms to seek resolutions.

While commending Pate’s assurance that the federal government was working on policy measures to alleviate the high prices of medicines, especially for vulnerable Nigerians, Oyintiloye emphasized the critical importance of prompt and effective interventions to prevent an increase in the death rate in the country.