The Coordinating Minister of Health and Social Welfare, Dr Mohammed Ali Pate, has initiated an engagement with pharmaceutical companies to explore ways of reducing the prices of medicines.
Pate announced this on Friday in a post on X (formerly known as Twitter), following an increasing outcry over the rise in drug prices, which has worsened the wellbeing of millions of Nigerians.
Millions of Nigerians face an agonising choice of having enough to eat or buying lifesaving medicines that keep their health in check.
“We have scheduled an invitation-only meeting next week with the key national actors in the industry to follow up and find workable solutions,” Pate said.
The minister said he already met with the representatives and chief executives of pharmaceutical companies at the ongoing 64th National Council on Health in Ekiti State.
He sought to gain insights into their perspectives and challenges, aiming to find workable solutions that protect the public interest.
“We are concerned about the high out-of-pocket expenses Nigerians experience to access medicines and other pharmaceutical products,” the minister stated.
“The government, as part of its Renewed Hope Agenda, is keen to find ways to reverse the hardship of Nigerians in this regard.”
He further noted that the ministry is working towards policy actions that may address the high prices of medicines, especially for the most vulnerable Nigerians.
Recognising the importance of unlocking value chains within the healthcare sector, the ministry is advancing the “Unlocking Healthcare Value-Chain Initiative” to foster sustainable local production of critical health products.