The Federal Competition and Consumer Protection Commission (FCCPC) have commenced an inquiry into the high cost and variation in the prices of BP and Diabetes drugs in different Nigerian markets.
Speaking during a stakeholders’ engagement in Abuja, the Executive Vice Chairman of FCCPC, Mr Tunji Bello, said the inquiry was to ensure better medication and healthcare delivery in the country.
The FCCPC boss who was represented by the Director, Surveillance and Investigations in FCCPC, Mrs Boladale Adeyinka, stated that the move was also to ensure safety and guard against exploitation that could jeopardise the rights and welfare of the consumers.
He said, “It has become obvious that the cost of medications has risen significantly over the past one year, making it increasingly difficult for Nigerian consumers to afford the treatment they need and the high cost of drugs not only affect patients’ health outcome but also places a strain on our health care system.
“The Commission has received consumer complaints regarding the variation and high costs of drugs in Nigerian Markets and this inquiry is aimed to identify 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.”
He explained that the Commission would continue to engage with necessary stakeholders towards protecting consumers from fake and substandard products and services in the country.
In their separate messages, the National Chairman, Association of Community Pharmacists of Nigeria, Eze Ambrosia, and the President of Pharmaceutical Society of Nigeria (PSN), Ibrahim Tanko, represented by the FCT Chairman of PSN, Salamatu Orakwelu, attributed poor infrastructure, drug importation and lack of forex as some of the factors responsible for high cost and variation in the prices of drugs in the country.
Also in his goodwill message, Osaretin Asowata, from the Society for Family Health (SFN), called for more policies that would further enhance effective healthcare delivery in the country.
The stakeholders’ engagement which is also being attended by Representatives from NAFDAC, Federal and State Ministries of Health, Pharmacy Council of Nigeria, WHO among others is expected to come with recommendations that would further bring succour to Nigerian consumers in the pharmaceutical and healthcare sector.