President Bola Ahmed Tinubu’s executive order, initiated on June 30, aimed to reduce the prices of drugs and pharmaceutical products in Nigeria. However, a recent market survey has shown that the prices of these essential items remain elevated for Nigerians. The executive order introduced zero tariffs, excise duties, and Value Added Tax waivers for raw materials, machinery, and pharmaceutical products to encourage local drug production and reduce production costs.
The order was announced by Minister of Health, Muhammed Ali Pate, who stated that it would enhance the competitiveness of local manufacturers. This move followed the federal Executive Council’s approval of Medipool for competitive pricing and supply of essential medicines across the country. Despite these efforts, the prices of drugs such as insulin, glucometer, and hypertension medications have increased significantly. For instance, insulin prices rose by 29% from N14,000 in June 2024 to N18,000 in August 2025, while a glucometer spiked 41% from N20,500 to N29,000.
The price hike is more pronounced for malaria treatment, with some drugs nearly doubling in price. Coartem, a widely used antimalarial, jumped 124% from N3,800 to N8,500, while Artesunate injection climbed 56% from N1,600 to N2,500. However, some medications, such as Augmentin and Ventolin inhaler, saw a decrease in price. The Augmentin price dropped by 24% from N18,500 in June 2024 to N14,000 in August 2025, and the Ventolin inhaler fell by 12% from N8,500 to N7,500.
The failure of the executive order to reduce drug prices raises concerns about the effectiveness of the government’s efforts to make essential medicines more affordable for Nigerians. The situation highlights the need for continued monitoring and evaluation of policies aimed at reducing the cost of healthcare in the country. As the government explores ways to address the issue, it is essential to consider the impact of external factors, such as global market trends and supply chain disruptions, on the prices of pharmaceutical products in Nigeria.
