The crisis of Nigeria drug prices has worsened despite President Bola Tinubu’s June 2024 executive order aimed at cutting medication costs. The order, which abolished tariffs, excise duties, and VAT on pharmaceutical machinery and raw materials, was intended to boost local production and ease patients’ financial burdens. Yet, more than a year later, patients continue to pay record-high prices for essential medicines.
Policy intentions vs reality
On June 28, 2024, Health Minister Muhammad Pate announced that the executive order would eliminate levies on pharmaceutical raw materials and equipment. It also included measures to fast-track regulatory approvals, support local manufacturers, and strengthen Nigeria’s healthcare value chain.
By March 2025, the Nigeria Customs Service confirmed it had begun implementing the order. Critical raw materials, including Active Pharmaceutical Ingredients (APIs), excipients, syringes, needles, diagnostic kits, and packaging materials, were exempted from tariffs and VAT for two years.
Despite these assurances, the Nigeria drug prices crisis persists. Patients are reporting dramatic increases, with many medications rising between 30% and 100% in just 14 months.
Steep medication hikes
Surveys show how hard-hit patients are:
- Insulin rose 29%, from ₦14,000 in June 2024 to ₦18,000 in August 2025.
- Glucometers jumped 41%, from ₦20,500 to ₦29,000.
- Metformin increased by 30%, from ₦500 to ₦650.
- Amlodipine rose 33%, from ₦1,800 to ₦2,400.
- Exforge spiked 83%, from ₦32,800 to ₦60,000.
- Coartem, an antimalarial, soared 124%, from ₦3,800 to ₦8,500.
- Artesunate injection rose 56%, from ₦1,600 to ₦2,500.
- Lokmal tablets doubled from ₦1,200 to ₦2,450.
Only a few drugs became cheaper:
- Augmentin fell 24%, from ₦18,500 to ₦14,000.
- Ventolin inhaler dropped 12%, from ₦8,500 to ₦7,500.
For most Nigerians, however, relief is out of reach.
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Why Nigeria drug prices keep rising
Stakeholders blame the situation on policy failures, high foreign exchange rates, soaring energy costs, and heavy reliance on imported medicines.
Ambrose Ezeh, National President of the Association of Community Pharmacists of Nigeria, said the executive order has not been effectively implemented:
“Most of the drugs we use are imported, and with forex at record highs, prices cannot fall. The executive order remains largely on paper.”
Other experts, including the Nigerian Medical Association (NMA) and the Nigerian Association of Resident Doctors (NARD), argue that weak enforcement, limited local production, and widespread out-of-pocket payments worsen affordability.
Dr. Tope Osundara, NARD president, noted:
“Even for drugs whose prices are falling slightly, patients still cannot afford them. Without better health insurance and stronger financing, most Nigerians will remain priced out of treatment.”
Patients bear the burden
Across Nigeria, patients share heartbreaking stories:
- Diabetes patients say insulin prices remain at ₦18,000–₦20,000, leaving many without essential doses.
- Malaria treatment costs have doubled, with basic therapy exceeding ₦16,000.
- Common antibiotics that once cost ₦4,000 now sell for ₦24,000.
Many Nigerians now resort to local herbs, rationing prescriptions, or skipping treatment altogether. “Medicines are expensive, food is costly, and the little I make is barely enough to survive,” lamented Mrs. Idowu Abi, a Lagos resident.
Policy contradictions
Industry leaders warn that new levies, like the mandatory 4% Free-on-Board (FOB) charge on imports, threaten to erase any benefits of the tariff exemptions. Frank Muonemeh of the Pharmaceutical Manufacturers Group said:
“They should not use one hand to give and another to take back. The FOB levy nullifies gains from the zero-tariff policy and may push prices even higher in 2025.”
Outlook
While officials argue the policy is still in its early stages, health experts and pharmacists insist that Nigerians cannot wait. Without urgent enforcement, stronger local production, forex stability, and expanded health insurance, Nigeria drug prices will remain beyond reach for millions.
For now, Tinubu’s order has failed to deliver the promised relief, leaving patients both sick and stranded.
