The Federal Competition and Consumer Protection Commission (FCCPC) has initiated an investigation into the escalating costs and price disparities of blood pressure (BP) and diabetic drugs across various markets in Nigeria
Speaking at a stakeholders engagement on Wednesday in Abuja, the Executive Vice Chairman of FCCPC, Mr. Tunji Bello stated that the aim of the inquiry is to enhance healthcare delivery and ensure affordable medication for all in the country.
He said the FCCPC is “empowered by the Federal Competition and Consumer Protection Act 2018 to promote fair business practices and safeguard consumer interests.
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“As part of our mandate, we are conducting an inquiry into the high cost and variation of drug prices in Nigeria” the EVC stated.
Represented at the event by the Director of Surveillance and Investigations at the Commission, Mrs Boladale Adeyinka, Mr Bello noted that the initiative also seeks to safeguard consumers from exploitation and uphold their rights and well-being.
“The cost of essential medications has risen dramatically over the past year, making it increasingly challenging for Nigerians to access the treatments they require.
“This surge in drug prices not only undermines patient health outcomes but also places a significant burden on the nation’s healthcare system.”
Bello explained that the FCCPC has received multiple consumer complaints regarding the inconsistent and high prices of medications across Nigerian markets, noting that the ongoing inquiry is designed to uncover the underlying causes of these disparities.
“This investigation is pivotal in ensuring that Nigerians have access to quality and affordable healthcare services. By addressing these pricing issues, we hope to contribute meaningfully to the overall well-being of consumers.”
The EVC reaffirmed the commitment of the Commission to consumer protection, assuring that the FCCPC would continue collaborating with key stakeholders to combat the distribution of counterfeit and substandard products in the country.
In their respective remarks, the National Chairman of the Association of Community Pharmacists of Nigeria, Mr Eze Ambrosia, and the President of the Pharmaceutical Society of Nigeria (PSN), Mr Ibrahim Tanko—represented by the FCT Chairman of PSN, Mrs Salamatu Orakwelu—identified several factors driving the high costs and price variations of drugs. These factors include inadequate infrastructure, dependency on drug importation, and foreign exchange challenges.
On his part, Mr. Osaretin Asowata of the Society for Family Health (SFH) emphasized the need for more robust policies aimed at enhancing the effectiveness of healthcare delivery in Nigeria.
The stakeholder engagement session attracted representatives from the National Agency for Food and Drug Administration and Control (NAFDAC), Federal and State Ministries of Health, the Pharmacy Council of Nigeria, the World Health Organization (WHO), among others.
Deliberations are expected to yield actionable recommendations that will provide relief to Nigerian consumers and advance the country’s pharmaceutical and healthcare sector.