The Pharmaceutical Society of Nigeria, PSN, said it will take measures to ensure the reduction of prices of drugs and other medical devices in Nigeria.
Prof. Cyril Usifoh, PSN President, who disclosed this in Uyo, Akwa Ibom State capital after the National Council meeting on Monday, noted that President Bola Tinubu’s recent order on Zero Tariffs for pharmaceutical raw materials, equipment, and other essentials will bring down the prices of medicines.
He said the association has been having meetings with the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate on how to tackle the issue and had engaged the Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, SAN on the need to restore full funding to the regulatory agencies to meet its mandate.
“We are hopeful that the Presidential Order on Zero tariffs for pharmaceutical raw materials and medical devices will bring down the prices of medicine in the country.
“We plan to bring down the prices of pharmaceuticals in the Country, so we have been having a quarterly meeting and discussion with the Coordinating Minister of Health and Social Welfare as well as other stakeholders in the value chain and tell them what we are passing through,” he said.
Usifo also stated that the society will partner with the Akwa Ibom State government for the establishment of pharmaceutical companies in the state.
“We believe that if Governor Umo Eno engages us and the industrial people properly, we will not only produce high-quality drugs but we will be able to supply to the West African Sub-Region and that will be a foreign exchange earner for the state and indeed Nigeria. Countries like Gabon will start importing very high-quality medicine from Nigeria,” Usifoh added.
- PDP Suspends National Secretary, Other National Officials - November 2, 2025
- Condemn Prisoner Escape From Custodial Centre - November 2, 2025
- Coup Plot: Brigadier General, Colonel, 4 Lieutenant Colonels, Others Under Investigation - November 1, 2025