Ilorin: Nigerians facing rising drug costs may soon see relief, as the Pharmaceutical Society of Nigeria reports that President Bola Tinubu recently approved a two-year tax waiver for the sector, which is expected to lead to a significant nationwide reduction in medicine prices.
During an interview with newsmen in Ilorin on Sunday, Baba emphasised that the new policy will significantly reduce medicine costs nationwide, easing pressure on consumers and reinforcing the anticipated relief expressed by the Pharmaceutical Society of Nigeria.
He further noted that, at a critical time for the sector, the two-year tax relief for pharmaceutical firms is set to lower production and importation costs, helping the industry manage high foreign exchange rates.
He noted that importing Active Pharmaceutical Ingredients remains costly, with exchange rates contributing to high drug prices. He indicated the waiver should help significantly reduce prices.
Describing the policy as timely, Baba emphasised its potential to expand access to essential medicines nationwide, further endorsing the new government measure.
Building on his remarks, Baba also applauded Governor AbdulRahman AbdulRazaq for health sector reforms, particularly improved welfare for healthcare workers in the state, while also commending the federal decision.
He stated that the governor ensured that civil service pharmacists receive pay matching that of their federal counterparts under the Consolidated Health Salary Structure.
He explained that this initiative has boosted morale among pharmacists and helped retain skilled professionals amid increased emigration.
He added that, as a result of better remuneration, the impact of the ‘Japa’ trend within the sector has lessened, further supporting pharmacist retention strategies.
Regarding interprofessional relations, Baba noted that pharmacists in Kwara enjoy cordial relationships with doctors, setting the state apart from tensions reported elsewhere.
He stated that pharmacists in Kwara have positive relations with doctors, marked by collaborative programmes and mutual professional support, further reinforcing local harmony.
