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Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by milann: 6:52am On Jul 29, 2021 |
The Pharmaceutical Society of Nigeria, PSN, on Wednesday raised the alarm over what it described as “gross mismanagement: of the Drug Revolving Fund, DRF, by most institutions especially the tertiary health institutions, disclosing that debts owed by Teaching Hospitals to pharmaceutical companies has grown to N30 billion at the last count. https://www.vanguardngr.com/2021/07/teaching-hospitals-debt-to-drug-manufacturers-hits-n30bn-psn/ 2 Likes
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Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by omowolewa: 6:58am On Jul 29, 2021 |
Debtors |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Nobody: 7:32am On Jul 29, 2021 |
The elephant in the room is the fact that healthcare prices in Nigeria are kept very very low. Some people think that our hospitals are expensive. Infact, go and find out how much a caesarean costs in the US, and how much the same proccedure costs in Nigeria and you would know that things are cheap. Many Nigerian hospitals are broke. They thus use the cash from the drug revolving fund to pay for things not related to drugs. Add the corruption too, and you would see why things are so bad. The solution is to either allow government hospitals run at a profit, or charge higher taxes. We only tax 30% of the taxable population, and our tax to gdp raito is 6.1%, and oil prices have not passed $100 since 2014. 13 Likes |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by inoki247: 7:49am On Jul 29, 2021 |
Debtor everywhere mak dem use Lapo agent to help go retrieve the money e b lik say dem too sabi aw to recover money.... 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by habsydiamond(m): 7:52am On Jul 29, 2021 |
Public hospitals in debt... Why is it everywhere when it as to do with fraud... Greed is the major cause of this. May God help us all. 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Kingcalls: 7:59am On Jul 29, 2021 |
The drug companies wey de give them drugs b like charity organisation |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by newsheadlines: 7:59am On Jul 29, 2021 |
CBN go pay |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by MANNABBQGRILLS: 8:00am On Jul 29, 2021 |
He dismissed conspiracy theories about COVID-19 vaccines insisting that the vaccines are safe and efficacious.Good news. 2 Likes 3 Shares |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by sammysmiles(m): 8:00am On Jul 29, 2021 |
Everything about Nigeria na to dey owe |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by WeNoGoDie(m): 8:02am On Jul 29, 2021 |
Are they giving the drugs for free?? 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Coldie(m): 8:03am On Jul 29, 2021 |
Nigerians are the reason y nobody takes black seriously, government can't manage anything now even u too 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Coldie(m): 8:03am On Jul 29, 2021 |
WeNoGoDie:Are they even treating for free 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Nobody: 8:05am On Jul 29, 2021 |
habsydiamond: Yeah, there is corruption, but the main reason has to do with 1.Cheap prices of servicies...which means most hospitals don't earn enough 2.People not paying bills on time or not paying at all. 3.Low subventions from government 4.A healthcare budget that isn't enough (We spend 3 billion dollars on health in this country annually. For comparison, Spain spends something like $100 billion annually). The budget is low because we don't have the tax to gdp ratio to fund it. 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Jayboi(m): 8:07am On Jul 29, 2021 |
Inasmuch as I know the govt is owing them, I'm sure the 30 billion is exaggerated |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Ngasky(m): 8:08am On Jul 29, 2021 |
Corruption from the management of our hospitals. On another note why are the pharmaceutical companies looking for forex to procure machine and equipments to produce the drugs? Does that mean they dont have the capacity in the first place and still they went and source for the funds from the government? 40 pharma companies? Who are these companies and what is their physical addresses and drug production type and capacity? I dont think we have upto 10 standard pharmaceutical companies in Nigeria. So who are those mushroom companied trying to dupe the nation? Our problems start with us as people 4 Likes |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by WeNoGoDie(m): 8:11am On Jul 29, 2021 |
Coldie: Na wah! There must be serious fraud somewhere. 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Enn214(m): 8:14am On Jul 29, 2021 |
Naija |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Amorprincesa24: 8:19am On Jul 29, 2021 |
Apt Beancounter94: 2 Likes |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Coldie(m): 8:26am On Jul 29, 2021 |
WeNoGoDie:There must be is understanding, there is serious fraud going on 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by olowo1930: 8:27am On Jul 29, 2021 |
Beancounter94:sir am not in agreement with your quote, why must we borrow and incurs huge debt every day. Can't we get a greater benefit from govt ? All the taxes our three tires received per day,per transaction, per month,per year. Can't they use it for meaningful thing. In UK. You can't get any drugs except is recommended by a physician. But we can never have that structure in Nigeria. The debt should be off set by the people that commit it not spreading it to the masses 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Olodo24: 8:32am On Jul 29, 2021 |
Have they not been receiving allocations? |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by adioolayi(m): 8:35am On Jul 29, 2021 |
Wahala for marketers who keeps supplying these institutions!!! Nigeria is broke...I understand it's difficult to ignore them, because of the sales volume they give...But, debt recovery is also hallmark of a good sales man...The best approach to this is to avoid these institutions for now..if not, they will wreck your organisation. You cannot risk long credit outstanding days in a country where Naira is on a free fall... Manufacturers and supply should think twice. |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Nobody: 8:35am On Jul 29, 2021 |
olowo1930:No problem. , why must we borrow and incurs huge debt every day. Can't we get a greater benefit from govt ? All the taxes our three tires received per day,per transaction, per month,per year. Can't they use it for meaningful thing Well, considering that 1.We have a very low tax to gdp ratio of 6.1% (for comparison, South Africa and Ghana have theirs at 23%) 2.Tax only 30% of the taxable population (due to the fact that most people are working in the informal sector) 3.Oil has been below what we need it to be at sustenance level since 2014(some would argue since 2008 self).... Nigeria is doing the best with the little we have, even with the massive looting going on. . In UK. You can't get any drugs except is recommended by a physician. But we can never have that structure in Nigeria. The debt should be off set by the people that commit it not spreading it to the masses 1. In Nigeria, you cannot get most drugs without a physician's prescription too. (I tried to get some intravenous diazepam for a patient without a prescription from a pharmacy a few years ago..it was kind of an emergency. Pharmacist said no can do...bring a prescription..in Nigeria.). And in the UK, you can get painkillers like ibuprofen sans physcian's prescription 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by WeNoGoDie(m): 8:42am On Jul 29, 2021 |
Coldie: N30 billion Naira fraud. No be small thing oh. |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by FreeStuffsNG: 8:47am On Jul 29, 2021 |
Beancounter94:You seem to be making excuses for the thieves in the public health sector. Igbobi managed it so well that it realised a profit of N200m from the same DRF! The problem is that these funds are not well managed and PSN should petition EFCC as well. This is glaring cases of theft and corruption leading to serious sabotage of the country. You take medicines without paying, sold it at small margin and instead of remitting the fund to the owner Pharmaceutical company, you stole both his money and the margin while causing more public health problems. The medicines were sold but the money stolen and the question is, should we allow the thieves to continue or go away? No sir. EFCC should move into this matter before it kills these companies and the already challenged public health care system 3 Likes |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Nobody: 8:53am On Jul 29, 2021 |
FreeStuffsNG: And you would notice that I mentioned corruption in my comment. Plus our health budget is too low. And Igbobi is an orthopedic hospital,(orthopedics is just one subspecialty of surgery) not a larger and more specialized teaching hospital.(which may take on as many as several specialties, including surgery) The corruption and sharp practices is a symptom, and also fuels the problem. |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by FreeStuffsNG: 9:02am On Jul 29, 2021 |
Beancounter94: Sir, this is not rocket science. Let me explain what PSN is saying once again. The Pharmas supply medications on return on sales (ROS) to the hospitals, These hospitals sell it at profit, receive the payments from the patients who pay for these medications the Pharmas supplied the hospitals, so where's the money? The patients paid for those drugs and the hospital earned profit from the sale. Where's the money? The money is traceable. For most public hospitals, they have a phoney system where the hospital CMD creates a bank account to receive the payments even without the Pharmacy not a signatory to the account, they then steal and divert the funds they should remit to the Pharmas and steal the profit due to the hospital ! That's the criminal angle EFCC should investigate along with how the seed fund for the DRF vanished in the first place. This malfeasance and corruption is already leading to loss of lives because critically needed medications are no longer being supplied by the Pharmas because they don't have money to replace the previous supply they made that the return has been stolen or hidden in interest-yielding phoney bank accounts. 3 Likes |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by Kubernetes: 9:24am On Jul 29, 2021 |
WeNoGoDie: The problem may be from the hospital administration of not remitting the funds to the drug companies. No tertiary hospital gives drug for free. The drugs are gvn to patients upon presentation of cash receipt. |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by slowice(m): 9:59am On Jul 29, 2021 |
They should getat with their silly talk... A whole 30b and they still supply them more drugs on credit? The corruption favours them all, the drug company inflate the prices to get more gains while the hospitals inflate supply quantities to get more money. They fg should audits them now you ll see heads rolling all around 1 Like |
Re: Teaching Hospitals’ Debt To Drug Manufacturers Hits ₦30 Billion — PSN by wallarwallar(m): 10:38am On Jul 29, 2021 |
I did not bother to read the long epistle but my question is where are the beneficiary of the drugs. l'm very sure no government hospital give free drug. Even buying drug at government hospitals with your money are always under stress and wahala. I'm not sure if dis country wud even change for good because it seems all institutions are corrupt and we are not backing down at all everybody just want to be rich not minding what the negative effects might be. |
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