Israel Oluyemi
The Chairman of the Pharmaceutical Society of Nigeria, Kwara Chapter, Abdulmalik Baba, has predicted a drop in drug prices following the Federal Government’s approval of tax waivers for pharmaceutical firms.
Baba linked the expected reduction to the high cost of importing active pharmaceutical ingredients and the pressure of foreign exchange rates on medicine prices.
“Importation of Active Pharmaceutical Ingredients is very expensive, and exchange rates have driven up drug costs,” he said.
He added that the two-year tax relief will cut production and importation costs, noting, “With this waiver, we expect a drastic price reduction.”
The PSN chairman said the policy will broaden access to essential medicines and ease the burden on consumers nationwide.
He also commended the Kwara State Government for strengthening the health sector by improving the welfare of healthcare workers.
“The governor ensured pharmacists in the civil service are paid in line with federal counterparts through the Consolidated Health Salary Structure,” he said.
Baba said the improved remuneration has boosted morale, retained skilled professionals, and reduced the impact of emigration within the sector.
He added that pharmacists in Kwara maintain a strong working relationship with doctors, stressing that collaboration has remained smooth and professional.