LIVE UPDATES
President Bola Tinubu has adopted three resolutions aimed at reducing the country's escalating pharmaceutical costs and providing Nigerians with better healthcare access.
He mentioned this during the Federal Executive Council meeting on Wednesday.
The council also resolved to make three "far-reaching decisions" to reduce the rising costs of health items such as syringes and needles, as well as the departure of key manufacturers from the country.
Prof. Ali Pate, the Coordinating Minister of Health and Social Welfare, announced this while briefing State House Correspondents following the first council meeting of 2024, which was led by President Tinubu at Aso Rock Villa Abuja.
Pate stated that the council had asked the Attorney-General of the Federation to draft executive directives to ensure the survival of local manufacturing.
He also stated that specific actions had been implemented to manage rising pharmaceutical costs, provide financial assistance to health sector regulatory agencies, and alleviate the issue of healthcare experts leaving the industry, known as the japa wave.
According to Pate, the Executive Order's goal is to encourage the establishment of local medicine makers and ensure equal pricing of essential medications.
He explained that this action is deemed necessary due to the withdrawal of major global pharmaceutical businesses from Nigeria, which has resulted in reduced competition.
