The federal government has disclosed that it will soon issue an executive order to curb escalating drug prices in the country.
The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate disclosed this on Wednesday during the third edition of the ministerial press briefing series initiated by the Ministry of Information in Abuja.
The minister, however, stated that the executive order is short-term goal in curbing the rising prices of drugs in the country.
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He noted that the mid to long-term goals in reducing drug prices involve the domestication of imported drugs within the next three years in collaboration with the Ministry of Industry, Trade, and Investment.
“The rising cost of pharmaceuticals is a pressing concern, and we are taking decisive action to address this issue. An executive order will soon be issued to curb escalating drug prices in the short term, while our mid to long-term goal involves the domestication of imported drugs within the next three years, in collaboration with the Ministry of Trade,” he said.
He added that the federal government has also initiated the construction of pharmaceutical-grade warehouses in 21 states in collaboration with Drug Management Agencies.
Pate disclosed that warehouses, built to fortify the pharmaceutical infrastructure across the nation, will be commissioned in April 2024.
“Two additional warehouses at the federal level are also underway, complemented by the installation of the Warehousing Management Information System– M Supply, in these 21 pharma-grade warehouses This visionary project commenced in October 2023 and is slated for completion in March 2024, with a scheduled commissioning in April 2024,” he said.
Speaking on the importance of the Warehousing Management Information System, Pate stated that it will significantly enhance accountability and transparency, ensuring the potency of public health medicines and other health commodities.
“This infrastructure development aligns with our commitment to improving health outcomes for citizens nationwide.
“Furthermore, the government has taken strides in advancing healthcare data management. Essential medicines and narcotics utilisation across the three levels of healthcare have been successfully onboarded onto the National Health Logistics Management Information System platform.
“This decisive step not only strengthens our international image by enhancing medicines reporting but also establishes a robust framework for monitoring and optimising the supply chain. In addition, the federal government has led the development of the maiden National Policy on Cosmetics Safety in Nigeria, a crucial policy that will guide the production and safe use of cosmetics in the country.
“Moreover, the development of two Unified Food Safety Training Manuals, focusing on Hazard Analysis and Critical Control Point principles, as well as the requirements for Good Hygiene and Manufacturing Practices along the food supply chain, underscores our commitment to promoting food safety and hygiene practices across the nation,” he said.
The minister also disclosed that the Ministry has secured a $1bn pledge from Afrexim bank, alongside other foreign partners, to aid the unlocking of the full potential of the healthcare sector in the country.