FCCPC Probes Rising Costs of Diabetes and BP Medications in Nigeria
The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into the soaring prices of blood pressure (BP) and diabetes medications across Nigeria.
Executive Vice Chairman (EVC) of the FCCPC, Tunji Bello, announced the inquiry during a stakeholders’ engagement in Abuja on Wednesday. He was represented by Boladale Adeyinka, Director of Surveillance and Investigations.
According to Adeyinka, the rising cost of essential medications is making healthcare increasingly inaccessible for many Nigerians, placing additional strain on the country’s healthcare system.
“We have received complaints regarding the variation and high costs of drugs in Nigerian markets. This inquiry is aimed at identifying factors contributing to disparities in healthcare accessibility and affordability, particularly regarding drug pricing.
“We believe this is crucial to ensuring Nigerians have access to quality and affordable healthcare services. The commission will continue to engage with necessary stakeholders towards protecting consumers from fake and substandard products and services in the country.”
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Industry leaders, including the National Chairman of the Association of Community Pharmacists of Nigeria, Eze Ambrosia, and the President of the Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, cited poor infrastructure, heavy reliance on drug imports, and foreign exchange shortages as key factors driving the price surge.
Osaretin Asowata of the Society for Family Health (SFH) urged the government to implement stronger policies to improve healthcare accessibility.
The stakeholders’ engagement, attended by representatives from the National Agency for Food and Drug Administration and Control (NAFDAC), the Federal and State Ministries of Health, the Pharmacy Council of Nigeria, and the World Health Organization (WHO), aims to develop recommendations that will bring relief to Nigerian consumers in the pharmaceutical and healthcare sectors.
