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FG to sign executive order to curb escalating drug prices

The Federal Government has announced that it will soon issue an executive order to curb the escalating drug prices across the country.

This was made known by the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, at the third edition of the ministerial press briefing series initiated by the Ministry of Information on Wednesday, February 28, 2024 in Abuja.

Prof Pate explained that the executive order is a short-term goal in reducing drug prices.

He added that the Federal Government’s mid to long-term goals in reducing drug prices involve the domestication of imported drugs within the next 3 years in collaboration with the Federal Ministry of Industry, Trade and Investment.

The minister noted that pharmaceutical-grade warehouses at the federal level will be commissioned in April 2024.

The minister stated that the implementation of Warehousing Management Information System (WMIS) is expected to significantly enhance accountability and transparency, ensuring the potency of public health medicines and other health commodities.

He added that the government’s efforts to promote medical industrialisation are gaining momentum.

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