₦airaland Forum

Why Are Drugs Still So Expensive In Nigeria? PSN Ex President Exposes The Real Problem Behind Nigeria’s Pharmaceutical Crisis

Former President of the Pharmaceutical Society of Nigeria, Pharmacist Olumide Akintayo, has called on the Federal Government to stop relying on temporary policies and urgently build a serious industrial system that can make medicines cheaper and strengthen local drug manufacturing in Nigeria.

Akintayo made this statement during the commissioning of the newly completed Asiwaju Adebowale Omotosho Pharmacy House, a five storey building owned by the Oyo State chapter of the PSN.

According to him, Nigeria’s heavy dependence on imported medicines from countries like India and China is not accidental. He explained that those countries intentionally built strong industrial policies that supported pharmaceutical manufacturing for years, while Nigeria failed to do the same.

He pointed out that local pharmaceutical manufacturers are struggling under unbearable conditions including unstable electricity, poor infrastructure, high production costs, expensive loans and weak government support.

In his words, no country can expect competitive pharmaceutical manufacturing while factories are being powered mainly by diesel generators.

Akintayo also criticised government procurement systems for failing to prioritise locally manufactured medicines in public hospitals and healthcare institutions. According to him, there is no point encouraging companies to produce locally when the same government refuses to create a reliable market for those products.

Another major issue raised was financing.

The former PSN president lamented that pharmaceutical manufacturers are borrowing money at interest rates as high as 25 to 30 percent, describing it as completely unsustainable for any serious manufacturing business.

He called on the Federal Government to empower institutions like the Bank of Industry to provide long term single digit loans for pharmaceutical companies and also invest in Active Pharmaceutical Ingredient production plants so Nigeria can reduce dependence on imported raw materials.

Also speaking at the event, pharmaceutical industrialist Asiwaju Adebowale Omotosho said many Nigerians underestimate how difficult manufacturing has become in the country. According to him, imported drugs from countries like China and Germany often enter the market cheaper and already have stronger market acceptance, making it difficult for local manufacturers to compete.

He added that many people now prefer trading instead of manufacturing because manufacturing takes time, patience and huge financial commitment before profits eventually come.

Chairman of the Oyo State PSN, Pharmacist Victor Ajanaku, also revealed that many pharmaceutical manufacturers and importers have either scaled down operations or completely exited the industry due to the harsh business environment, poor implementation of government incentives and difficulties accessing foreign exchange.

Perhaps the most striking part of the discussion is that this issue goes far beyond pharmacists alone.

Nigeria imports a huge percentage of its medicines despite having one of the largest populations in Africa. This dependence means every foreign exchange crisis, inflation spike or import disruption immediately affects drug prices nationwide, leaving ordinary Nigerians to suffer the consequences through expensive medications and reduced access to treatment.

The Olubadan of Ibadan, Oba Rasidi Ladoja, who officially declared the building open, also called for stronger collaboration between orthodox healthcare practitioners and traditional medicine experts, stating that indigenous medical knowledge should not be completely ignored.

As drug prices continue to rise across the country, many Nigerians are now asking a difficult question:

If India and China built strong pharmaceutical industries through deliberate government support, what exactly is stopping Nigeria from doing the same?

https://tribuneonlineng.com/psn-ex-president-calls-for-industrial-policy-for-affordable-medicines/[/qquote

Nairalanders, what do you think?

We need stable electricity.

This man should shut the hell up if he has no ball to speak truth to power that be.

buhari and tinubu government, pharmaceutical companies have really struggled to survive. Several of them have shut down. The ones left are operation in fraction of their full capacity.

Until something is done to savage the economy, nothing will change.

A big pharmaceutical company CEO told me that the reason fake drugs are in circulation in Nigeria is because the little drug imported can not serve the country. He went further to say that if not for the fake drugs in circulation, the price of drug would have been 1000x more than it is today.

He said the fake drugs in circulation in Nigeria is 20x more than the original ones.

I use by contact abroad to get drugs for my family when ever they are ill. I don't even trust all these big pharmacy.

Let the government tackle production of counterfeit drugs before you cry for local patronage

Una dey smoke weed dey post news

"He explained that those countries intentionally built strong industrial policies that supported pharmaceutical manufacturing for years, while Nigeria failed to do the same.

He pointed out that local pharmaceutical manufacturers are struggling under unbearable conditions including unstable electricity, poor infrastructure, high production costs, expensive loans and weak government support."

Nothing will ever work under Tinubu's watch.

Nigerians are only good at theorising causes of problems. Not actionable solutions.

A pathetic country.

When this menace called tinibu entered and implemented demonic policies that killed the economy and drove away the few giants like GSK that we were managing, the oily mouthed PSN ex president did not come out to cry foul.

The extent of damage that this tinibu felon has done to Nigeria has revealed how docile and completely useless Nigerians are
It is too late. Even pushing him away nex year is not enough. Nigerians have to deal thoroughly with him. Worse than the most evil despots in history. The punishment needs to be loud and shake the world. That's the only way Nigerians can regain their 'street credibility' that is currently in tatters.

Dis people should bring arsenal match to front page Na

Game has started

According to him, Nigeria’s heavy dependence on imported medicines from countries like India and China is not accidental. He explained that those countries intentionally built strong industrial policies that supported pharmaceutical manufacturing for years, while Nigeria failed to do the same.

Nothing more to add, and this is an indictment, not just on the tinubu government, but all past governments

Incoming government of Peter Obi should take note.

Is that so .. I go come read am so

Tenses:
This man should shut the hell up if he has no ball to speak truth to power that be.

buhari and tinubu government, pharmaceutical companies have really struggled to survive. Several of them have shut down. The ones left are operation in fraction of their full capacity.

Until something is done to savage the economy, nothing will change.

A big pharmaceutical company CEO told me that the reason fake drugs are in circulation in Nigeria is because the little drug imported can not serve the country. He went further to say that if not for the fake drugs in circulation, the price of drug would have been 1000x more than it is today.

He said the fake drugs in circulation in Nigeria is 20x more than the original ones.

I use by contact abroad to get drugs for my family when ever they are ill. I don't even trust all these big pharmacy.

That man who told you that thing is a dealer of fake drugs. Trust me. Look at the way he's justifying it.

Where are the local manufacturers

To achieve what the PSN is saying, we need to decide on on a way to vote at elections in a manner where every vote would count FAIRLY.

You see, government cannot plan long-term is they have to fight for the seat every 3 years of a 4 year cycle. For as long as political parties and electioneering remains the wars that it is, we remain in this cul-de-sac

But that's one problem. To solve that problem, Nigerians would have to vote from their houses, using their phones. We wouldn't need PVC anymore but we would use our NINs and our phones.

The second problem is that Nigerians would need to have quality education. The situation where our children pass exams across board using supposed "miracle centres" mean that we are developing a great population of certificates-bearing citizens with blunted critical-thinking capacities. Nigeria's clearance exam today is UTME. That's the CBT exam where there's the LEAST level of open examination malpractice. It isn't that they do not cheat o, but its levels are the lowest. The evidence of low standards is when we reduce the cutoff marks to 35% i.e 140/400.

Can you imagine America lowering admission levels after GRE and GMAT to 35%?

Until we do that, governments cannot plan long-term. That's the problem with the NDC plan to vote Peter Obi for only one term and vote Kwakwanso for two terms thereafter. It is deceit on arrival. The Igbo man would not become President and decide to do only one term. They would clash with everyone in government. That's unfortunately the truth. The Igbo have waited for far too long to be President to accept only 4 years. As President, 4 years is like one day.

Finally, what Oba Ladoja said is a different matter entirely. Traditional medicines are acceptable once they are passed through the same clinical trials as modern medicine. Artesunate and Ginseng, for example, are traditional Chinese drugs that have been accommodated into mainstream modern drugs. The reason is because they went through that stringest global clinical trial standards.

These things are simple to understand, if we have and allow knowledge to pervade every decision we take as a people.

Tenses:
This man should shut the hell up if he has no ball to speak truth to power that be.

buhari and tinubu government, pharmaceutical companies have really struggled to survive. Several of them have shut down. The ones left are operation in fraction of their full capacity.

Until something is done to savage the economy, nothing will change.

A big pharmaceutical company CEO told me that the reason fake drugs are in circulation in Nigeria is because the little drug imported can not serve the country. He went further to say that if not for the fake drugs in circulation, the price of drug would have been 1000x more than it is today.

He said the fake drugs in circulation in Nigeria is 20x more than the original ones.

I use by contact abroad to get drugs for my family when ever they are ill. I don't even trust all these big pharmacy.

Smh.

You are lying and it is completely sickening and abhorrent.
It is low self esteem that is making you reckless even with your own life and that of your family. You will soon learn how ignorant you are by confusing pharmaceutical drugs with your insatiable hunger for everything foreign.

Nigerian pharmaceutical industry is one of the last bastion of hope in Nigeria that has not been contaminated by mediocrity and low self esteem people.

There is nothing like Nigerian drugs, all drugs made in Nigeria meet global standards and like every country in the world battling fake drugs, you must source only through Pharmacists.

The Nigerian pharmaceutical industry is only asking for more political support, incentives and investments to scale up and lower costs so it can fulfill healthcare security of the nation first then take opportunities to export to other nations not having our kind of quality manpower.

If you could comprehend the report, you will realize how sound, progressive and Patriotic those Nigerian Pharmacists quoted are. That Pharm. Victor Ajanaku I learnt is a Retired Brigadier General in the Nigerian Army and today heading Oyo State chapter of PSN after retiring from the army to build and run his own pharmaceutical manufacturing company.

Everything is expensive in Nigeria. Nigeria is very expensive country.

NairaMaster1:
That man who told you that thing is a dealer of fake drugs. Trust me. Look at the way he's justifying it.

Maybe you are right, maybe you are not.

But truth has to be told.

How do you explain the fact that since buhari and especially tinubu came on board the prices of drugs had skyrocketed to over 500% at least.

FreeStuffsNG:
Smh.

You are lying and it is completely sickening and abhorrent.
It is low self esteem that is making you reckless even with your own life and that of your family. You will soon learn how ignorant you are by confusing pharmaceutical drugs with your insatiable hunger for evrrything foreign.

Nigerian pharmaceutical industry is one of the last bastion of hope in Nigeria that has not been contaminated by mediocrity and low self esteem people. There is nothing like Nigerian drugs, all drugs made in Nigeria meet global standards and like every country in the world battling fake drugs, you must source only through Pharmscists.

The Nigerian pharmaceutical industry is only asking for more political support, incentives and investments to scale up and lower costs so it can fulfill healthcare security of the nation first then take opportunities to export to other nations not having our kind of quality manpower.

If you could comprehend the report, you will realize how sound, progressive and Patriotic those Nigerian Pharmacists quoted are.

You speak like the pharmaceutical companies in Nigeria has some sort of immunity against bad economy.

Is the pharmaceutical industry not a subset of the health sector.

Is the health sector not in severe distress?

Tenses:
You speak like the pharmaceutical companies in Nigeria has some sort of immunity against bad economy.

Is the pharmaceutical industry not a subset of the health sector.

Is the health sector not in severe distress?

Smh.
You can not learn with this horrible mentality.

You should be asking why the Nigerian pharmaceutical industry is insulated from the rot you gloat over. It is because drug manufacturing is strictly on global standards and the training curriculum of Nigerian pharmacist has resisted every attempt to deviate from it. May be it is because Pharmacy practice and professional body is older than independent Nigeria as the 1st professional body in Nigeria.

Nigeria is so lucky to have brilliant patriots in charge of pharmaceutical education , training and regulation.

If you want to learn more, go and buy JAMB form, study hard and earn admission to study Pharmacy in top Nigerian universities.

Hedonisco:
Nigerians are only good at theorising causes of problems. Not actionable solutions.

A pathetic country.

When this menace called tinibu entered and implemented demonic policies that killed the economy and drove away the few giants like GSK that we were managing, the oily mouthed PSN ex president did not come out to cry foul.

The extent of damage that this tinibu felon has done to Nigeria has revealed how docile and completely useless Nigerians are
It is too late. Even pushing him away nex year is not enough. Nigerians have to deal thoroughly with him. Worse than the most evil despots in history. The punishment needs to be loud and shake the world. That's the only way Nigerians can regain their 'street credibility' that is currently in tatters.

You see that tinubu right there is currently fixated on getting the economy stable,getting all macro economic indicators looking up......next 4 years will be the period of nigeri's economic revival,all critical sectors will get the enabling environment to run and funding,Nigeria will be a FDI haven where investors will not be afraid of their funds getting trapped.

$1 trillion economy by 2030 target has already been set by tinubu and critical pointers are already observable.....bank recapitalisation and money market deepening that will able to provide much needed capital to drive the economy......its always a lot easier to condemn but only if you paid a little attention you will notice these upward trajectory.

Over to you bulaba defender

Tenses:
This man should shut the hell up if he has no ball to speak truth to power that be.

buhari and tinubu government, pharmaceutical companies have really struggled to survive. Several of them have shut down. The ones left are operation in fraction of their full capacity.

Until something is done to savage the economy, nothing will change.

A big pharmaceutical company CEO told me that the reason fake drugs are in circulation in Nigeria is because the little drug imported can not serve the country. He went further to say that if not for the fake drugs in circulation, the price of drug would have been 1000x more than it is today.

He said the fake drugs in circulation in Nigeria is 20x more than the original ones.

I use by contact abroad to get drugs for my family when ever they are ill. I don't even trust all these big pharmacy.

The drugs you got from abroad will be called fake drugs in Nigeria because it gat no NAFDAC Number