The urgent need for FG intervention in Nigeria’s healthcare crisis

In Nigeria’s battle for affordable healthcare, a new adversary has emerged: skyrocketing drug prices. For those already navigating the treacherous waters of health challenges, this surge in costs is more than a mere inconvenience—it’s a dire threat.

From antibiotics to anti-diabetic drugs, essential medications have become financial burdens, leaving many Nigerians teetering on the edge of healthcare accessibility. It’s a crisis that demands immediate attention before it consumes the nation’s healthcare system entirely.

What’s even more concerning is that drug prices have become unattainable for a large segment of the population, particularly the ordinary citizens. This unfortunate reality can be largely attributed to the turmoil in the foreign exchange market and the energy sector, which have had adverse effects on production costs across various industries, including pharmaceuticals.

Adding to the distress is the mass departure of foreign pharmaceutical companies that once operated within the country. The recent astronomical hikes in prices for common pain relievers, cold remedies, antibiotics, and anti-malarials underscore the severity of the situation.

As patients in Nigeria grapple with the harsh reality of skyrocketing drug prices, they find themselves trapped in a harrowing dilemma: pay exorbitant amounts to stay alive or gamble with their own well-being. Take, for example, the Ventolin Inhaler, once priced at N4,000, now demanding a staggering N15,500—a heart-wrenching leap of nearly 300 percent. But it’s not just medications; the soaring costs of essential medical tests add fuel to the fire, further burdening those in need of critical examinations.

Amidst this crisis, it’s imperative to scrutinise the allocation of the N100 billion disbursed by the federal government to indigenous pharmaceutical manufacturers and healthcare investors.

Intended to boost local production and expand their capital base, one can’t help but wonder: did this infusion of funds truly cultivate an environment conducive to local manufacturing? Were there measures in place to ensure the prudent utilisation of these resources, or did they vanish into the abyss of bureaucratic neglect? These questions demand answers as Nigerians continue to grapple with the harsh realities of healthcare access in a landscape marred by soaring costs and dwindling hope.

The escalating healthcare costs serve as a stark reminder that there’s been a misstep in the allocation and utilisation of funds.

It’s evident that the repercussions are felt most acutely by the vulnerable sectors of society—children, pregnant women, the elderly, and those with pre-existing conditions—who now face heightened financial strain in accessing essential care and medication.

Amidst the pressing challenges plaguing Nigeria’s healthcare sector, we commend President Bola Ahmed Tinubu’s proactive step in addressing escalating drug prices through the issuance of an Executive Order.

This decisive action aims to not only tackle immediate concerns but also lays the groundwork for long-term solutions, including the domestication of imported drugs within three years. While applauding this initiative, we emphasise the need for a comprehensive approach that addresses all facets of healthcare challenges.

Furthermore, the federal government’s endeavour to strengthen the pharmaceutical infrastructure by constructing pharmaceutical-grade warehouses in 21 states, in collaboration with Drug Management Agencies, is a welcome development.

However, it’s imperative to extend these efforts to encompass measures that promote local pharmaceutical production, endorse traditional medicines, and expand health insurance coverage. By fostering local manufacturing, reducing import dependency, and enhancing accessibility to healthcare services, we can pave the way for a healthier and more sustainable future for all Nigerians.

It is also heartwarming that, as part of efforts to fortify the pharmaceutical infrastructure across the country, the federal government has initiated the construction of pharmaceutical-grade warehouses in 21 states in collaboration with the Drug Management Agencies.

It should, also, put in place measures that would help in boosting local production of pharmaceuticals, promotion of herbal and other traditional medicines, as well as broadening access to health insurance coverage for the masses. Encouraging and bolstering local pharmaceutical manufacturing can reduce dependence on imports, thus slashing costs by eliminating import expenses and the attendant foreign exchange challenges.

The government and relevant agencies should intensify efforts towards broadening access to health insurance coverage that can assist the people, especially patients who are contending with health issues, in managing the financial strain of pharmaceutical expenses by providing support with medication costs.

Amidst the tumult of Nigeria’s healthcare landscape, urgent action is imperative to navigate the storm brewing from the forex crisis. Stabilising the exchange rate is paramount to fostering an inviting business atmosphere, beckoning back foreign pharmaceutical giants to our shores.

To achieve this, facilitating single-digit credit availability to local pharmaceutical manufacturers through banks is pivotal in fortifying their operational capacities. Concurrently, health authorities must streamline regulatory processes and enforce stringent standards for all drugs, whether locally produced or imported, instilling much-needed consumer confidence.

Yet, the current state of affairs paints a grim picture, a calamity in the making. Whether born of oversight or a failure in policy execution, the populace bears the brunt of the fallout. It’s a narrative that compels the government to consider drastic measures, perhaps even declaring a state of emergency within the health sector. Particularly, urgent attention is warranted in revitalising local drug manufacturing to alleviate the crushing burden of escalating healthcare costs on the Nigerian populace.