More than a year after President Bola Ahmed Tinubu signed an executive order in June 2024 aimed at easing the financial burden on patients by eliminating tariffs, excise duties, and VAT on pharmaceutical inputs, Nigeria continues to face steep increases in the cost of essential medicines.
The directive, intended to reduce production costs and stimulate local manufacturing of health-related products, has yet to deliver its promised impact. Manufacturers and consumers alike report that the policy remains largely unimplemented, with no significant relief in sight.
On June 28, 2024, Coordinating Minister of Health and Social Welfare, Dr. Muhammad Pate, announced via social media platform X that the executive order had been signed to support the domestic production of medical products. The order removed taxes and duties on vital inputs such as Active Pharmaceutical Ingredients (APIs), excipients, and other raw materials necessary for producing essential drugs, syringes, diagnostic kits, and more.
Pate noted that the policy also proposed structured market mechanisms—such as framework contracts and volume guarantees—to incentivize local production. He added that multiple ministries, including Health, Finance, and Trade and Investment, would work jointly on a unified framework to streamline regulatory processes and remove administrative hurdles.
Implementation responsibilities were assigned to several government agencies, including the Nigeria Customs Service (NCS), the National Agency for Food and Drug Administration and Control (NAFDAC), the Standards Organisation of Nigeria (SON), and the Federal Inland Revenue Service (FIRS), with a two-year window for the policy’s incentives to take effect.
In March 2025, the Nigeria Customs Service issued a statement confirming the commencement of the order’s implementation. The document, signed by the agency’s National PRO, Abdullahi Maiwada, reaffirmed that pharmaceutical manufacturers approved by the Federal Ministry of Health and holding valid Tax Identification Numbers would benefit from exemptions on import duties and VAT on key production inputs for the next two years.
Soaring Prices Defy Policy Intentions
Despite these efforts on paper, a nationwide survey of drug prices between June 2024 and August 2025 shows a troubling trend: instead of falling, the prices of many essential medicines have surged—some by more than double.
The data, gathered through market assessments, paint a grim picture for Nigerians, especially those managing chronic illnesses. For instance:
- Insulin rose by 29%, from ₦14,000 to ₦18,000.
- Glucometers spiked by 41%, now retailing at ₦29,000 from ₦20,500.
- Metformin, a common diabetes medication, jumped by 30%, from ₦500 to ₦650.
- Amlodipine, used to treat hypertension, rose by 33%, from ₦1,800 to ₦2,400.
- Exforge, another hypertension drug, increased by a staggering 83%, reaching ₦60,000 from ₦32,800.
The cost of treating malaria has also escalated dramatically:
- Coartem, a widely used antimalarial, climbed by 124%, from ₦3,800 to ₦8,500.
- Artesunate injections rose 56%, from ₦1,600 to ₦2,500.
- Lokmal tablets now cost ₦2,450, up 104% from ₦1,200.
While a few exceptions were noted—such as Augmentin, which dropped by 24% from ₦18,500 to ₦14,000, and Ventolin inhalers, which decreased by 12%—these price drops were rare in an otherwise inflation-dominated pharmaceutical market.
Experts Blame Delayed or Incomplete Rollout
Health sector stakeholders attribute the continued price hike to several systemic issues, including the slow execution of the executive order, heavy reliance on drug imports, currency volatility, high energy costs, and supply chain inefficiencies.
According to Ambrose Ezeh, President of the Association of Community Pharmacists of Nigeria (ACPN), the executive order has not been fully activated. “Until the order is properly enforced, the situation will not improve. Even if implemented, 75% of the drugs consumed in Nigeria are imported. With foreign exchange rates still high and energy costs climbing, both local and foreign drug production remain expensive,” Ezeh said.
Olatunji Aloba, ACPN Chairman in the Federal Capital Territory, offered a more nuanced perspective. He acknowledged that some level of implementation is beginning to reflect in the market, but stressed that only newly imported medicines—those brought in under the terms of the executive order—are beginning to show price reductions.
“Some drug prices are starting to fall, but the majority still reflect the old pricing structure. Medicines already in circulation before the policy change still carry their original costs. Only new shipments are starting to show the policy’s intended impact,” he explained.
Conclusion
Despite presidential action and public assurances, the cost of essential medicines in Nigeria continues to rise sharply. For millions of Nigerians, particularly those managing chronic health conditions, the relief promised by the 2024 executive order remains largely theoretical.
Until the government moves beyond policy announcements and ensures thorough, system-wide enforcement, medication prices may continue to spiral—leaving patients, once again, sick and stranded.