As part of efforts to promote easy accessibility and affordability of essential medications for Nigerian consumers, the Federal Competition and Consumer Protection Commission (FCCPC), has begun investigation into the escalating costs and price disparities of essential drugs in the market.
The agency is putting more emphasis on blood pressure (BP) and diabetic drugs being sold across various markets in Nigeria
Speaking at a stakeholder engagement session held in Abuja, the FCCPC Executive Vice Chairman, Tunji Bello, stated that the inquiry aims to enhance healthcare delivery and ensure affordable medication for all Nigerians.
Represented by the Director of Surveillance and Investigations at the Commission, Mrs. Boladale Adeyinka, the FCCPC boss noted that the initiative also seek to safeguard consumers from exploitation and uphold their rights and well-being.
“The cost of essential medications has risen dramatically over the past year, making it increasingly challenging for Nigerians to access the treatments they require. This surge in drug prices not only undermines patient health outcomes but also places a significant burden on the nation’s healthcare system,” Bello said.
According to him, the FCCPC has received multiple consumer complaints regarding the inconsistent and high prices of medications across Nigerian markets.
He explained that the ongoing inquiry is designed to uncover the underlying causes of these disparities, with a view to improving healthcare accessibility and affordability.
“This investigation is pivotal in ensuring that Nigerians have access to quality and affordable healthcare services. By addressing these pricing issues, we hope to contribute meaningfully to the overall well-being of consumers,” Bello added.
Reaffirming the FCCPC’s commitment to consumer protection, he assured that the commission would continue to collaborate with key stakeholders to combat the distribution of counterfeit and substandard products in the country.
In their respective remarks, the National Chairman of the Association of Community Pharmacists of Nigeria, Eze Ambrosia, and President of the Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko—represented by the FCT Chairman of PSN, Mrs. Salamatu Orakwelu—identified several factors driving the high costs and price variations of drugs.
The factors according to them include, inadequate infrastructure, dependency on drug importation, and foreign exchange challenges.
Also in a good will message Osaretin Asowata of the Society for Family Health (SFH), stressed that there is the need for more robust policies aimed at enhancing the effectiveness of healthcare delivery in Nigeria.
The stakeholder engagement session attracted representatives from the National Agency for Food and Drug Administration and Control (NAFDAC), Federal and State Ministries of Health, the Pharmacy Council of Nigeria, the World Health Organization (WHO), among others.
The deliberations are expected to yield actionable recommendations that will provide relief to Nigerian consumers and advance the country’s pharmaceutical and healthcare sectors.
