Heightened fears of increased mortality and reduced life expectancy among Nigerians have been sparked by the rising prices of essential pharmaceutical products such as malaria, antibiotics, anti-diabetes, and hypertension drugs.
This alarming situation is exacerbated by the unchecked daily increase of at least 300% in retail prices for commonly used drugs in Nigeria.
In addition to the existing food inflation rate of 40.01% in March, the pharmaceutical inflation rate has witnessed a sharp surge over the past four months.
Recent market surveys conducted in Abuja revealed staggering price hikes, with medications like Tavernic soaring to N25,735 from N11,370 in January, and Levofloxacin SGS selling for N1,200 from N550.
Other examples include Terivid tablet 200mg (N10,320 from N4,460), Coartem 80/480 (N6,500 from N1,750), and Ventolin inhaler at N9,000 compared to its previous price of N2,000.
The fate of many Nigerians surviving on the minimum wage of N30,000 is hanging in the balance as they struggle to afford essential medications.
Blaming the escalating prices on foreign exchange crises, reliance on medicine imports, and rising energy costs, Prof Cyril Usifoh, the president of the Pharmaceutical Society of Nigeria, highlighted the adverse impact on drug affordability.
The continuous depreciation of the Naira against the dollar, with a recent 240% increase in electricity tariffs, further compounds the issue.
Data from the National Bureau of Statistics reveals a 68% surge in drug imports during the third quarter of 2023, coinciding with GlaxoSmithKline’s exit in August last year.
Concerns over the surging drug prices have been echoed by Blessing Adams, a community pharmacist, who warned of the dire consequences on Nigerians’ health, leading to increased deaths from chronic diseases.
Amidst the desperation caused by high drug costs, many patients are turning to herbal alternatives due to the unaffordability of prescribed medications.
Individuals, like Isaac Adebayo at the National Hospital, Abuja, are being forced to seek alternative treatment options outside conventional healthcare due to the exorbitant drug prices.
In a bid to address the crisis, the Minister of Health, Ali Pate, indicated plans for an Executive Order aimed at curbing the escalating pharmaceutical prices; however, this proposal has yet to materialize.
Highlighting the severe impact of the drug price surge on mortality rates and life expectancy in Nigeria, Dr Uche Ojinmah, the President of the Nigerian Medical Association, emphasized the urgent need for government intervention to prevent a healthcare system collapse.
Ojinmah called for proactive measures such as tax waivers on drug imports, support for local drug production, and declaring a health sector emergency to mitigate the escalating crisis.
He stressed the necessity for strategic partnerships with local pharmaceutical industries to enhance the production of affordable generic drugs, citing successful models from other countries like India.
To ensure sustainable healthcare access for Nigerians, Ojinmah urged the government to eliminate taxes on medical equipment and incentivize local production of essential drugs to alleviate the burden on the population.
In conclusion, Ojinmah emphasized the urgency of addressing the high drug prices crisis to prevent a looming healthcare catastrophe in Nigeria, emphasizing the importance of prioritizing public health over commercial interests.