Angela Onwuzoo A past President of the Pharmaceutical Society of Nigeria, Olumide Akintayo has lauded President Bola Tinubu for signing the Executive Order aimed at addressing the soaring prices of drugs and transforming the nation’s pharmaceutical sector. According to the ex-PSN boss, the signing of an Executive Order on the availability of pharmaceuticals in Nigeria is a significant development that stakeholders in the sector welcome wholeheartedly. Akintayo said the new order would lead to increased local production of healthcare products, reduce costs of healthcare equipment and consumables, and promote local investments.
The Coordinating Minister of Health and Social Welfare, Professor Ali Pate, on Friday, announced on X handle that in a transformative move to revitalise the Nigerian health sector, President Tinubu signed the executive order to increase local production of healthcare products, including pharmaceuticals, diagnostics, devices such as needles and syringes, biologicals, medical textile, and among others. He said the Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi is to take the next steps towards codifying the new order. The executive order, according to the minister, has introduced zero tariffs, excise duties, and VAT on specified machinery, equipment, and raw materials.
The rising cost of drugs caused by inflation in the past few months further hampered access to health services in the country with many sick Nigerians un.
