The Nigerian government has promised to work towards reducing the high cost of medicine in the country.
According to Mojisola Adeyeye, the Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), the current high cost of medicines in Nigeria will soon be a thing of the past.
Adeyeye said the agency is working with pharmaceutical industries to lower the cost. She added that the remedy to reduce the high cost of drugs in the country is the rebirth of local pharmaceutical industries.
Adeyeye mentioned that indigenously manufactured medicine will be more accessible and affordable compared to imported products.
She pointed out that the devaluation of Naira was responsible for the expensive cost of drug production.
She also disclosed that she initiated the “5 plus 5” regulatory scheme which requires companies importing drugs that can be produced locally to get at least a five-year renewal.
The NAFDAC boss said the initiative birthed over 30% of new companies in Nigeria adding that it allowed importers to build their companies.
