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Drugs price hike: Life expectancy reduction imminent in Nigeria

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Drugs Price News

Nigeria

The rising price of malaria, antibiotics, anti-diabetes, hypertension drugs and other pharmaceutical products have heightened the fears of increased mortality and reduced life expectancy among Nigerians. The danger becomes more ferocious as retail prices for commonly used drugs in Nigeria have risen by at least 300 per cent daily untamed.

Apart from food inflation, which stood at 40.01 per cent in March, the inflation rate in pharmaceuticals has witnessed an exponential surge in the last four months. A recent Market Survey conducted by the DAILY POST in Abuja showed that the prices of antibiotics and malaria drugs such as Tavernic surged to N25,735 from N11,370 in January, Levofloxacin SGS sold for N1,200 from N550.

He added that the Nigerian government should look at tax waivers for the imports of medicines and pharmaceuticals and intervention in the local production of drugs. 'We are in a country where for a hypertensive patient, a drug that used to be sold for N2,000 to N4,000 a few years ago is now selling for N39,000 for a monthly dose, and the minimum wage is N30,000. 'Antibiotics are now within the range of N8,000 and above. The cheapest drug now is maybe Paracetamol, within N400 per pack.

Nigeria

 

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