Recent data has shown that President Bola Ahmed Tinubu’s executive order initiated on June 30 failed to reduce the prices of drugs and pharmaceutical products for Nigerians.
Recall that in June, President Tinubu, through the Minister of Health, Muhammed Ali Pate, announced the executive order to reduce the prices of drugs.
The executive order was expected to encourage local drug production through import, excise duties, and Value Added Tax waivers for raw materials, machinery for drugs, and pharmaceutical products.
Ali Pate had announced the Executive Order in a statement he personally wrote on his X handle.
“The Order introduces zero tariffs, excise duties, and VAT on specified machinery, equipment, and raw materials, aiming to reduce production costs and enhance our local manufacturers’ competitiveness,” he wrote on X.
This followed federal Executive Council approval of Medipool for competitive pricing and supply of essential medicines across the country.
However, despite the executive order and its implementation, drug and pharmaceutical product prices have remained on the rise and out of reach of Nigerians.
For instance, a recent market survey showed that insulin, for instance, rose by 29 percent from N14,000 in June 2024 to N18,000 in August 2025, while a glucometer spiked 41 percent from N20,500 to N29,000.
This is the case for hypertension patients, as metformin increased by 30 percent, moving from N500 to N650, while amlodipine climbed 33 percent, rising from N1,800 to N2,400. Exforge, another hypertension drug, soared 83 percent from N32,800 to N60,000.
The price increase is worse for malaria treatment, as drug prices have nearly doubled.
Coartem, a widely used antimalarial, jumped 124 percent from N3,800 to N8,500, while Artesunate injection climbed 56 percent from N1,600 to N2,500. The price of the Lokmal tablet rose from N1,200 last year to N2,450 now, which is a 104.2 percent increase.
Meanwhile, the Augmentin price dropped by 24 percent, from N18,500 in June 2024 to N14,000 in August 2025. Ventolin inhaler also fell by 12 percent, from N8,500 to N7,500.
