Reps Urge FG to Address Rising Drug Prices in Nigeria

On Wednesday, the House of Representatives called on the Federal Government to take urgent measures to tackle the soaring prices of essential medicines in Nigeria. The motion, sponsored by Alex Ikwechegh, a member representing Aba North and Aba South in Abia State, pointed out that the prices of commonly used drugs have risen by 300-500% over the past two years, largely due to inflation, the depreciation of the naira, and heavy reliance on imports.

The lawmakers expressed concern that this trend severely limits access to healthcare for low-income earners, particularly in rural communities. Despite the Federal Government's introduction of an executive order in June 2024 aimed at reducing product costs, the benefits have yet to be felt due to poor implementation and regulatory bottlenecks.

The House emphasized the need to boost local pharmaceutical manufacturing to improve access to affordable medicines, create jobs, and support industry growth. They urged relevant ministries and agencies to ensure compliance with the proposed measures and report back within four weeks.