As part of a major initiative to address the escalating prices of drugs across Nigeria, the Federal Competition and Consumer Protection Commission (FCCPC) has launched an inquiry titled "Inquiry into the High Cost and Variation of Drug Prices in the Pharmaceutical and Healthcare Sector." The inquiry commenced on Wednesday, February 26, 2025 in Abuja and aims to address the urgent concerns surrounding drug affordability and accessibility.

The session convened key stakeholders in the pharmaceutical industry, including National Agency for Food and Drug Administration and Control (NAFDAC), representatives from the Association of Community Pharmacists of Nigeria (ACPN), the Pharmaceutical Society of Nigeria (PSN), and the National Health Insurance Authority (NHIA) among others.

Mrs. Boladele Adeyinka, the Director of Surveillance and Investigation at the FCCPC, spoke on behalf of Mr. Olatunji Bello, the Commission's Executive Vice Chairman. She emphasized the FCCPC’s mandate under the Federal Competition and Consumer Protection Act of 2018, stating, "As part of our mandate, we are conducting an inquiry into the high cost and variation of drug prices in Nigeria." She noted that significant increases in medication costs over the past year have led to challenges for many Nigerians in accessing essential treatments.

Highlighting the impact of these rising costs, she remarked, "The high cost of drugs not only affects patients’ health outcomes but also places a strain on the healthcare system." She brought attention to astonishing price disparities, revealing that "the price disparity for the same drugs across different locations reaches 200 per cent." The inquiry was spurred by a surge in consumer complaints about soaring prices, particularly concerning essential medications for chronic conditions like hypertension and diabetes.

Assuring the public of the Commission’s commitment, Adeyinka stated, "This inquiry aims to identify the factors contributing to disparities in healthcare accessibility and affordability, particularly concerning drug pricing." A detailed report will be released following the inquiry's conclusion.

Speaking on behalf of Pharm. Ibrahim Tanko, the President of the Pharmaceutical Society of Nigeria (PSN), Salamatu Orakwelu, the FCT Chairman of PSN, underscored the urgent need to address high drug costs. "Access to affordable and quality medicine is a fundamental pillar of healthcare," she asserted. She reaffirmed pharmacists' dedication to promoting "equity, transparency, and sustainability in the pharmaceutical supply chain."

Orakwelu called for a concerted effort among policymakers, healthcare professionals, and industry players to tackle these pressing challenges. "The PSN stands ready to support initiatives that promote price stability, enhance drug accessibility, and strengthen the NHIA for the benefit of all Nigerians," she concluded.

As the inquiry unfolds, all eyes are on the FCCPC to provide actionable solutions that promise better healthcare and affordability for all Nigerians.