Posted on: Mon 01-07-2024

Stakeholders in the pharmaceutical industry have said that the signing of the Executive Order by President Ahmed Tinubu would boost local production of pharmaceutical products even as they described it as most significant development in the sector.

The President of the Pharmaceutical Society of Nigeria, PSN, Prof. Cyril Osifoh who expressed appreciation on the signing of the Executive Order to increase local production of pharmaceutical diagnostics and medical devices, said the step taken by the President would boost local production, enhance competitiveness among manufacturers.

Osifoh said PSN was particularly grateful that it introduced zero tariffs, excise duties and VAT on specified machinery, equipment materials aiming to reduce production costs and enhance local manufacturers competitiveness.

“The potential for success in this order is boosted because specified items include APIs, excipients, essential raw materials, required for manufacturing of crucial health products including drugs, long lasting insecticidal, bed nets, rapid diagnostic kits, and others.

“The PSN is excited about the prospects of the order and therefore encourages the Coordinating minister of health to embark on other complimentary measures that will instantly bring down the skyrocketing prices of drugs in Nigeria one of such measures remains a tinkering with tariffs of varying dimensions and other procedures and processes being contemplated by the prime regulators in the pharmaceutical value chain”.

Osifoh assured the coordinating minister of PSN total commitment towards the activation and actualisation of the executive order.

Also speaking, the President of the PMG-MAN, Pharm Oluwatosin Jolayemi who commended President Ahmed Tinubu and the Co-ordinating minister of Health, Prod Ali Pate as well as the minister of State for Health, Dr Tunji Alausa said the Executive Order would alleviate some of the concerns that Nigerians have with regards the increase in cost of medicine.

“However, we (manufacturers) await the implementation of all these policies with the MDAs,” Jolayemi said.

Also, speaking, former President of the Pharmaceutical Society of Nigeria, PSN, Pharm Olumide Akintayo said the signing of the Executive Order on the availability of Pharmaceuticals in Nigeria was a most significant development that patriots in the sector welcome wholeheartedly.

“We salute the sagacity of the Coordinating Minister of Health and the PS of the FMOH who have galvanized a commendable output in the Health Sector in recent times.

“Prof Alli Pate is beginning to distinguish himself as one who means what he says and therefore does what he says.”

He said the inherent parturition this Executive Order brings must trigger off a new pharmaceutical industry couched and laden with possibilities and fruitfulness.

He maintained that, “We must move away from perambulations in the wilderness of retrogression.”

The said the federal government through the FMOH must progressively intervene in the matter of unfortunate tariffs and unfriendly policies churned out by some of the key regulators in the pharmaceutical sector if prices of drugs will crash in the interim because these tariffs are a major reason drugs availability, accessibility and affordability can no longer be guaranteed in alignment with the National Drug Policy.

While congratulating President Tinubu on this feat, he said it was sacred to make a case for the appointment of an Adviser, Pharmaceuticals to the President who would coordinate the plethora of endeavours that are Pharmacy based and inclined in the Tinubu administration.

SOURCE: VANGUARD NEWSPAPER

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