The Federal Competition and Consumer Protection Commission (FCCPC) has initiated an investigation into the rising costs of blood pressure and diabetes medications in Nigeria.
Executive Vice Chairman (EVC) of the commission, Tunji Bello, stated that the probe aims to enhance medication accessibility and overall healthcare delivery in the country. Speaking at a stakeholders’ engagement in Abuja yesterday, Bello, who was represented by Boladale Adeyinka, Director of Surveillance and Investigations, highlighted the financial burden imposed on consumers due to escalating drug prices.
“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,” he said.
Bello reaffirmed the FCCPC’s commitment to ensuring Nigerians have access to quality and affordable healthcare. He added, “The commission will continue to engage with necessary stakeholders to protect consumers from fake and substandard products and services in the country.”
The National Chairman of the Association of Community Pharmacists of Nigeria, Eze Ambrosia, and the President of the Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, identified poor infrastructure, high drug importation costs, and foreign exchange challenges as key drivers of medication price hikes.
Osaretin Asowata of the Society for Family Health (SFH) called for improved policies to strengthen healthcare delivery.
The engagement was attended by representatives from the National Agency for Food and Drug Administration and Control (NAFDAC), the federal and state Ministries of Health, the Pharmacy Council of Nigeria, and the World Health Organization (WHO). The meeting is expected to yield recommendations that will provide relief for consumers in the pharmaceutical and healthcare sectors.
