Buhari sets up inter-ministerial committee on cheaper drugs
President Muhammadu Buhari has directed the setting up of an inter-ministerial committee to fashion out how medicines and livestock drugs can be made available to the Nigerian public at a fraction of the prevailing prices.
President Buhari stated this when he received the executive board members of a pharmaceutical company, Graham Foggs Ltd, led by Sam Nda-Isaiah, a pharmacist and publisher of Leadership Newspapers at the Presidential Villa, Abuja, on Friday.
The President reiterated his commitment to the improvement of the quality of life of Nigerians, and then charged the ministers of Health, as well as Agriculture and Rural Development, to work with the pharmaceutical company, “short-circuit disruptive bureaucracy and brief me from time to time.”
The company said it seeks to make essential medicines and livestock drugs available to the public, at significantly reduced prices.
Sam Nda-Isaiah declared that “ It has been established that 70% of Nigerians cannot afford modern medicines produced by multinational pharmaceutical companies, due to their high prices.”
He noted that most of the companies operate at less than 30% of installed capacity, adding “it has been so for a very long time. The only break was during the Petroleum Trust Fund (PTF) days, when drug manufacturers were achieving 80% of installed capacity.”
He announced that Graham Foggs Ltd plans to bring down the prices of most of the commonly used medicines by up to 60%, producing only generic medicines as against patented ones.
“This would be achieved without a single kobo subsidy from government, with Active Pharmaceutical Ingredients (APIs) or bulk raw materials imported from China and India for the approved local production companies in Nigeria,” Nda-Isaiah said.
He noted that the finished products would be sold at fixed prices, to achieve the objectives of the programme, adding: “Millions of jobs would be created across the country as pharmaceutical plants would be operating at near-maximum capacity, and this would be for medicines of all classes including livestock drugs to boost the agricultural sector. The price of every medicine, including those under the health insurance scheme, will come down.”
It will be recalled that President Buhari had earlier reduced tariff on pharmaceutical raw materials and increased the one for finished imported products. This was to boost and encourage local production of medicines, for the benefit of ordinary Nigerians.
Tony Ailemen, Abuja