The Executive Vice Chairman, Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, on Wednesday disclosed that the commission has initiated an investigation into the escalating costs and price disparities of blood pressure (BP) and diabetic drugs across various markets in the country.
The move seeks to promote the accessibility and affordability of essential medications for Nigerian consumers.
Speaking at a stakeholder engagement session held in Abuja, Bello, emphasisedthat the inquiry aims at enhancing healthcare delivery and ensuring affordable medication for all Nigerians.
Represented by the Director of Surveillance and Investigations at the Commission, Mrs. Boladale Adeyinka, he said the initiative also seeks to safeguard consumers from exploitation and uphold their rights and well-being.
Bello said, “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.”
According to him, the FCCPC had received multiple consumer complaints regarding the inconsistent and high prices of medications across Nigerian markets, adding that the ongoing inquiry was designed to uncover the underlying causes of these disparities, with a view to improving healthcare accessibility and affordability.
The FCCPC boss said, “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.
He added that the commission would continue collaborating with key stakeholders to combat the distribution of counterfeit and substandard products in the country.
In their respective remarks, National Chairman, Association of Community Pharmacists of Nigeria, Mr. Eze Ambrosia, and President, Pharmaceutical Society of Nigeria (PSN), Mr. Ibrahim Tanko—represented by the FCT Chairman of PSN, Mrs. Salamatu Orakwelu—identified several factors driving the high costs and price variations of drugs – including inadequate infrastructure, dependency on drug importation, and foreign exchange challenges.
Moreover, representative of the Society for Family Health (SFH), Mr. OsaretinAsowata, stressed the need for more robust policies aimed at enhancing the effectiveness of healthcare delivery in the country.
The stakeholder engagement had 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 in attendance.
The deliberations are expected to yield actionable recommendations that will provide relief to Nigerian consumers and advance the country’s pharmaceutical and healthcare sectors.
