Drug prices will fall – PSN chair hails Tinubu’s tax waivers for pharmaceutical firms

By Fatima Mohammed-Lawal

he Chairman of the Pharmaceutical Society of Nigeria, Kwara Chapter, Mr Abdulmalik Baba has said President Bola Tinubu’s approval of waivers for the sector would significantly reduce medicine costs nationwide and ease pressure on consumers.

Baba said during an interview with newsmen in Ilorin on Sunday while commending Tinubu for the policy

According to him, the two-year tax relief for pharmaceutical firms would lower production and importation costs amid high foreign exchange rates.

“Importation of Active Pharmaceutical Ingredients is very expensive, and exchange rates have driven up drug costs. With this waiver, we expect a drastic price reduction,” he said.

He described the policy as timely, saying it would improve access to essential medicines for Nigerians across the country.

Baba also commended Gov. AbdulRahman AbdulRazaq for health sector reforms, particularly improved welfare for healthcare workers in the state.

“The governor ensured pharmacists in the civil service are paid in line with federal counterparts through the Consolidated Health Salary Structure.

“This move has boosted morale and helped retain skilled professionals despite rising emigration,” he said.

He added that better remuneration had reduced the impact of the ‘Japa’ trend within the sector.

On inter-professional relations, Baba said pharmacists in Kwara enjoyed cordial relationships with doctors, unlike tensions reported elsewhere.

“Our relationship with doctors in Kwara is smooth. We collaborate on programmes and support one another professionally,” he said.

(NAN)