The Nigerian government is set to issue an Executive Order aimed at regulating pharmaceutical prices, ensuring fair pricing of essential medicines, and making them more accessible to citizens. The announcement was made by Ali Pate, the Coordinating Minister of Health, after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential Villa.
The rising cost of pharmaceuticals, including life-saving commodities, and the exit of major multinational pharmaceutical companies from the Nigerian market has prompted the government’s move.
The Executive Order is expected to create a regulatory framework to protect public health, support local drug manufacturers, and address the challenges posed by the escalating prices of pharmaceuticals.
President Tinubu’s commitment to prioritising healthcare access is emphasised through these decisions, aligning with the Renewed Hope Agenda. The government aims to enable local drug manufacturers to thrive, reduce the impact of major companies exiting the market, and ensure that essential medicines are affordable for the Nigerian population.
Additionally, the Minister highlighted other decisions made during the FEC meeting, including measures to strengthen healthcare regulation, protect citizens, and address the shortage of healthcare workers. He explained that funding for key regulatory bodies, including the Medical and Dental Council, will be prioritised, and the approval of recruitment waivers for healthcare workers will be expedited by delegating the authority to the Health Ministry directly.