By Olaide Ajibola, JKNMedia Reporter
DIRECTOR-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Professor Mojisola Adeyeye has assured the Nigerian public that measures are being taken to alleviate the current high cost of medicines in the country.
Adeyeye gave her words during a webinar lecture organized by The Cable Online Newspaper to commemorate its 10th anniversary under the theme: “Addressing Costs of Medicines,” last week in Lagos.
She outlined her agency’s collaborative efforts with pharmaceutical industries to reduce the cost of drugs, emphasizing the revitalization of local pharmaceutical companies as a solution to the issue.
She argued that domestically manufactured medicinal products would be more accessible and cost-effective compared to imported drugs if local industries are strengthened.
She attributed the high production costs locally to the devaluation of the naira, which significantly increased the expenses associated with procuring raw materials and equipment needed for production due to the inflated exchange rates.
Additionally, Adeyeye noted that the departure of two multinational pharmaceutical companies from the country also contributed to the escalation of medical costs.
A key initiative introduced by NAFDAC under Adeyeye’s leadership is the “5 plus 5” regulatory scheme which mandates companies importing drugs that could be produced locally to undergo a five-year renewal process.
During this period, importers must transition to local manufacturing or collaborate with local producers.
Adeyeye highlighted that this policy has spurred the emergence of over 30% of new pharmaceutical companies in Nigeria and incentivized importers to establish local manufacturing facilities.
Furthermore, Adeyeye emphasized that NAFDAC’s initiative are geared towards reducing the cost of drugs, emphasizing that the strengthening of regulatory processes is essential for promoting local manufacturing.
Professor Ali Pate, the Coordinating Minister of Health and Social Welfare was also quoted affirming that policy measures implemented by President Bola Tinubu will soon have positive impact on the availability and affordability of essential medical commodities.
