Drug prices rise more than 100% as Nigerians enter Christmas season  

Prices of drugs used in the treatment of common diseases such as malaria and high blood pressure have more than doubled in some cases, a Naijaonpoint survey conducted in Lagos and Abuja shows.

This is amid a galloping inflationary pressure.

This is shown in the 135% increase in the prices of some anti-malaria drugs and 83% for some drugs used in managing high blood pressure.

The sharp price increases are not limited to these drugs. Other essential treatments like antibiotics and insulin have experienced hikes of up to 157%, placing an additional financial burden on families already stretched thin by rising living costs.

Meanwhile, Nigeria’s naira has lost 72% of its value since the naira float reforms in June 2022, hitting N1,658 per dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, data from FMDQ showed.

Pharmacists say weak naira and inflation have continually spiked the prices of pharmaceutical raw materials used in the manufacturing of drugs as over 80% of the production components are imported.

With Christmas nearing, Nigerians are forced to make tough decisions, balancing health needs with holiday expenditures. Many residents describe the current cost of prescription drugs as “unreasonable” and are calling for urgent measures to reduce prices.

A survey reveals an increase in the prices of essential medications in Abuja.

The cost drugs such as Coartem, Augmentin, and insulin—critical for managing malaria, infections, and diabetes —have seen substantial price surges in recent months in Abuja. A comparison between 2023 and 2024 shows the severity of this trend.

Coartem (Antimalarial) 

Coartem, a commonly used antimalarial, has seen a dramatic price surge. In early 2023, a dose cost just N1,200 but climbed steadily to N3,500 by mid-year. By October 2024, it reached N4,500, before spiking to N6,000—marking an overall increase of over 135% since 2023.

Supply chain disruptions have fueled sharp fluctuations in the price of Augmentin. The children’s suspension (228mg) now costs N9,000, up 157% from N3,500 earlier this year. Meanwhile, the adult dose (1g) has stabilized at N15,200, a decrease from a peak of N30,000 last year, though still prohibitively expensive for many.

Asthma patients face steep challenges with Seretide, as its price has soared from N6,500–N7,500 in early 2023 to ₦30,000—a 361% increase. The absence of affordable alternatives has left many struggling to manage their condition.

For diabetes patients, the cost of Hormoni insulin surged by 155%, rising from N5,650 in January 2023 to N13,500–N14,500 by late 2023. However, its current unavailability has forced patients to switch to Misater 30 insulin, which has also seen a 160% hike, from N7,500 in 2023 to N19,500 in 2024.

The price of blood pressure medications rose from N550 to N950, a 73% jump, adding to the strain on households.

The price of blood pressure medications rose from N550 to N950, a 73% jump, adding to the strain on households.

Even over-the-counter drugs have not been spared. Paracetamol, for example, has seen an 820% increase—from N25 in 2023 to N230 in 2024. Similarly, a sachet of Panadol now costs N550, further compounding financial challenges for families.

Lagos pharmacies have shown the current price increases for essential medications, particularly those used to manage blood pressure, infections, and cholesterol.

For many Nigerian families managing chronic illnesses, the festive season has become a period of financial strain, overshadowed by the pressing need to prioritize health over celebrations.

Families like that of Mrs. Yetunde Akinwale in Lagos are grappling with tough trade-offs. “My husband has hypertension, and I have diabetes. Together, we spend nearly N35,000 monthly on drugs. This Christmas, we’re cutting back on gifts and food to ensure we have enough for our medicines,” she shared with Naijaonpoint.

In Abuja, Nkechi, a mother of three, reflects on the escalating cost of her medications.

“In 2023, I spent almost N80,000 on hypertension and diabetes drugs. By December 2024, my blood pressure medication now costs N3,500 monthly, up from N1,500 last year, and my insulin rose from N7,500 to N14,000. I’ve spent everything I had this year on my health,” she laments.

Health economist Dr. Uchenna Eze attributes the rising costs to Nigeria’s dependency on imported pharmaceutical ingredients, compounded by the forex crisis.

“Over 80% of the active pharmaceutical ingredients (APIs) used locally are imported. The forex challenges have driven up import costs, and with limited local production capacity, the situation has worsened,” he explained.

Eze warns of the broader implications: “Unaffordable medicines lead to poorer health outcomes and increased strain on the healthcare system as preventable conditions turn into emergencies.”

Pharmacists echo these concerns. Mr. Peter, a pharmacist in Lagos, observes a troubling trend: “Patients are skipping doses or opting for cheaper, less effective alternatives. This is dangerous and could lead to severe complications.”

Similarly, Tochukwu, a pharmacist in Apo, Abuja, highlights the burden on both patients and sellers.

“Diabetes medications are now so expensive that customers often break down in tears. Last week, a woman came in crying because her usual diabetes medication had jumped from N6,000 to N19,000. It’s heartbreaking, she noted”

Pharm. Patrick Ajah, Managing Director of May & Baker PLC, points to the forex crisis as a major driver of the price hikes.

“The exchange rate has risen from N461 to N1,600–N1,700 per dollar in two years—a depreciation of over 300%. Pharmaceutical companies are incurring losses, making price stabilization nearly impossible without government support,” he cautioned.

Pharmacists and industry leaders are advocating for targeted measures to alleviate the crisis. Suggestions include: