Tinubu’s Executive Order Fails to Lower Drug Prices

Despite President Tinubu’s June 30 executive order waiving tariffs and VAT on pharmaceutical inputs to cut costs, drug prices in Nigeria remain high.

A market survey shows insulin rose 29% to N18,000, glucometers 41% to N29,000, metformin 30% to N650, and amlodipine 33% to N2,400. Antimalarials like Coartem surged 124% to N8,500.

Only a few drugs, including Augmentin (down 24%) and Ventolin inhalers (down 12%), recorded price drops.