ADVERTISEMENT

Buhari approves an Inter-Ministerial Committee on cheaper medicines, livestock drugs

The president gave the directive when he received executive board members of a pharmaceutical company, Graham Foggs Ltd, at State House, Abuja, on Friday.

President Muhammadu Buhari is in doubt of attending a debate for candidates looking to take his job in the 2019 presidential poll.

He reiterated his commitment to the improvement of the quality of lives of Nigerians and charged the Ministers of Health as well as Agriculture and Rural Development to work with the pharmaceutical company to “short-circuit disruptive bureaucracy, and brief me from time to time”.

The representative of company, Mr Sam Nda-Isaiah, a pharmacist and newspaper publisher, said the company sought to make essential medicines and livestock drugs available to the public at significantly reduced prices.

He said: “It has been established that 70 per cent of Nigerians cannot afford modern medicines produced by multinational pharmaceutical companies due to their high prices.’’

ADVERTISEMENT

Nda-Isaiah added that most of the companies had been operating at less than 30 per cent of installed capacity “and it has been so for a very long time.

“The only break was during the Petroleum Trust Fund (PTF) days, when drug manufacturers were achieving 80 per cent of installed capacity.’’

According to him, Graham Foggs Ltd plans to bring down the prices of most of the commonly used medicines by up to 60 per cent, producing only generic medicines as against patented ones.

“This would be achieved without a single kobo subsidy from government, with Active Pharmaceutical Ingredients (APIs) or bulk raw materials imported from China and India for the approved local production companies in Nigeria,” Nda-Isaiah said.

He noted that the finished products would be sold at fixed prices to achieve the objectives of the programme.

ADVERTISEMENT

Nda-Isaiah expressed optimism that millions of jobs would be created across the country as pharmaceutical plants would be operating at near-maximum capacity.

“And this would be for medicines of all classes including livestock drugs to boost the agricultural sector.

“The price of every medicine, including those under the health insurance scheme, will come down,’’ he said.

NAN recalls that Buhari had earlier in the life of this administration reduced tariff on pharmaceutical raw materials and increased the one for finished imported products.

This is to boost and encourage local production of medicines for the benefit of ordinary Nigerians.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

​Why we lifted sanctions on Niger, Mali, Burkina Faso - ECOWAS

​Why we lifted sanctions on Niger, Mali, Burkina Faso - ECOWAS

Boko Haram destroys 330KVA power towers in Yobe

Boko Haram destroys 330KVA power towers in Yobe

Akpabio assures Navy of senate's support in fight against crude oil theft

Akpabio assures Navy of senate's support in fight against crude oil theft

CAN demands arrest, trial of Muslim cleric who called for killing of Remi Tinubu

CAN demands arrest, trial of Muslim cleric who called for killing of Remi Tinubu

Judiciary is the best arm of government in Nigeria, Former Attorney-General

Judiciary is the best arm of government in Nigeria, Former Attorney-General

It's crucial for Nigerians to return home after schooling abroad - Makinde

It's crucial for Nigerians to return home after schooling abroad - Makinde

Senator Kingibe provides free JAMB forms to 2000 poor students in FCT

Senator Kingibe provides free JAMB forms to 2000 poor students in FCT

Sanwo-Olu tests run Red Line rail ahead of commissioning by Tinubu

Sanwo-Olu tests run Red Line rail ahead of commissioning by Tinubu

Tinubu's visit to Qatar not cancelled, FG debunks rejection claims

Tinubu's visit to Qatar not cancelled, FG debunks rejection claims

Pulse Sports

Ancelotti plans for Kylian Mbappe revealed

Ancelotti plans for Kylian Mbappe revealed

No Osimhen? Give us Boniface — Chelsea desperate to tap into Super Eagles' striker pool

No Osimhen? Give us Boniface — Chelsea desperate to tap into Super Eagles' striker pool

Manchester United's Hojlund Beats Ex-Arsenal Star to Set New Premier League Record

Manchester United's Hojlund Beats Ex-Arsenal Star to Set New Premier League Record

‘He’s not like Barca players’ — Peseiro on Super Eagles star Victor Osimhen

‘He’s not like Barca players’ — Peseiro on Super Eagles star Victor Osimhen

ADVERTISEMENT
ADVERTISEMENT