NAFDAC DG pledges to reduce costs of drugs in Nigeria

Prof. Mojisola Adeyeye, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), declared the Federal Government’s commitment to reducing medication costs during a recent webinar by The Cable Newspaper.

Adeyeye emphasized collaboration with pharmaceutical industries to tackle high drug expenses. She highlighted the importance of rejuvenating local pharmaceutical sectors to address the prevailing high prices of medications in Nigeria.

Adeyeye detailed NAFDAC’s initiatives aimed at lowering medication costs, focusing on promoting local manufacturing.

She discussed the challenges posed by currency devaluation, which significantly affects production costs. NAFDAC’s “5 plus 5” regulatory scheme requires importers of drugs that can be locally produced to transition to local manufacturing or partner with domestic producers.

Adeyeye explained that this regulatory approach has yielded positive outcomes, with over 30% of new pharmaceutical companies in Nigeria emerging as a result of the “5 plus 5” initiative.

She emphasized that this strategy stimulates economic growth and encourages importers to invest in local production, ultimately leading to more accessible and affordable medications for Nigerians.

Prof. Ali Pate, Coordinating Minister of Health and Social Welfare, echoed Adeyeye’s sentiments, expressing confidence in President Bola Tinubu’s policy measures.

He anticipated tangible relief for essential medical commodities as a result of these measures. With concerted efforts from regulatory bodies and government interventions, Nigerians can anticipate significant progress in addressing the challenge of high medication costs.