Afrigather A chieftain of the All Progressive Congress in Osun, Hon. Olatunbosun Oyintiloye, has appealed to President Bola Tinubu, to urgently intervene within the hike in costs of important medicine within the nation.
Oyintiloye, who appealed whereas talking with newsmen on Sunday in Osogbo, famous that many Nigerians have been at present unable to entry most important medicine as a result of extraordinarily excessive costs.
He mentioned that the escalating costs of the medicine might be attributed to a mixture of things, such because the withdrawal of GSK, a serious participant within the pharmaceutical business, and the excessive price of inflation within the devaluation of naira, amongst others.
Oyintiloye mentioned that the aforementioned elements, amongst others, had made costs of medication akin to amlodipine, augmentin, paracetamol, exforge, Coartem, and different important medicine to develop into unaffordable for the frequent man.
In accordance with him, the Nationwide Bureau of Statistics revealed that the worth of medicines imported into Nigeria rose by 68 per cent to N81.8 billion between July and September 2023.
Oyintiloye, a former lawmaker, mentioned that the surge within the costs of medication had positioned a big monetary pressure on people and households already fighting the tough financial system.
“When the native forex weakens towards foreign currency, the bills incurred in procuring these important medical provides rise, consequently driving up the general costs of medicines within the nation.
“The shortage or restricted availability of international trade exacerbates as a ripple impact, forcing producers to compensate by growing the costs of medicines to cowl their increased operational prices”, he mentioned.
The APC chieftain, who recommended President Tinubu’s effort in repositioning the financial system, nonetheless, mentioned there may be an pressing must redouble efforts within the well being sector.
Oyintiloye, a member of the defunct APC Presidential Marketing campaign Council, famous that sufferers fighting power ailments akin to hypertension, diabetes, and tuberculosis, amongst others have been now discover it troublesome to deal with the surge within the costs of their treatment.
“The way in which the costs are going up, people who find themselves in want of a lot of the important medicine won’t be capable of afford it and this would possibly enhance in demise price within the nation.
“Insulin, as an illustration, is now between N12000, and N14,000, and among the sufferers would possibly want two or three of it in a month.
“Additionally, Ventolin inhalers for asthmatic sufferers rose from N2000 to N9,000, and if a affected person is incomes N30,000 per 30 days, how will she or he cope?
Oyintiloye appealed to the federal government to drive investments within the well being sector, deal with the Foreign exchange downside, take away the obligation tax on treatment, encourage native manufacturing and likewise enable a extra enabling surroundings for the pharmaceutical firm.
He recommended Prof. Mohammed Pate, the Coordinating Minister of Well being and Social Welfare for assembly with representatives and Chief Government Officers of pharmaceutical firms in Nigeria lately to seek out options to the disaster.
Oyintiloye mentioned Pate’s assurance that the federal authorities was working in direction of coverage actions which will deal with the excessive costs of medicines, particularly for essentially the most susceptible Nigerians was commendable.
He mentioned the efforts of President Tinubu in revamping the financial system would quickly start to yield constructive outcomes.
