The Pharmaceutical Society of Nigeria (PSN) has in response to the rising costs of drugs and medical devices in Nigeria\u00a0 embarked on efforts to reduce these prices. PSN President, Professor Cyril Usifoh, revealed these initiatives during a briefing in Uyo, Akwa Ibom State, following the National Council meeting on Monday.<\/p>\n
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Professor Usifoh emphasized that the PSN has been actively engaging with the Coordinating Minister of Health and Social Welfare, Professor Muhammad Pate, through quarterly meetings to address the issue of high drug prices and explore potential solutions.<\/p>\n
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A significant development that Usifoh highlighted is President Bola Tinubu’s recent directive on Zero Tariffs for pharmaceutical raw materials, equipment, and other essentials. He expressed optimism that this policy would soon lead to a reduction in the cost of medicines across the country.<\/p>\n
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“We are hopeful that the Presidential Order on Zero Tariffs for pharmaceutical raw materials and medical devices will bring down the prices of medicine in the country,” Usifoh stated.<\/p>\n
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Additionally, the PSN has engaged the Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, SAN, to advocate for the restoration of full funding to regulatory agencies to ensure they can effectively fulfill their mandates.<\/p>\n
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The PSN is also exploring local manufacturing opportunities to further reduce costs. Professor Usifoh announced plans to collaborate with the Akwa Ibom State government to establish pharmaceutical companies in the state. He noted that Governor Umo Eno has shown support for this initiative, which could position Akwa Ibom as a hub for high-quality drug production, potentially supplying the West African sub-region and boosting Nigeria\u2019s foreign exchange earnings.<\/p>\n
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“We believe that if Governor Umo Eno engages us and the industrial people properly, we will not only produce high-quality drugs but also supply them to the West African sub-region,” Usifoh added.<\/p>\n
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The PSN National Council Meeting in Uyo also served as a platform to strategize for the upcoming 97th Annual National Conference of the PSN, scheduled for November 4\u20139, 2024, in Akwa Ibom. Professor Usifoh and his predecessor, Mazi Samuel Ohuabunwa, indicated that the conference would further provide an opportunity to engage with local stakeholders and discuss the establishment of pharmaceutical companies in the state.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Pharmaceutical Society of Nigeria (PSN) has in response to the rising costs of drugs and medical devices in Nigeria\u00a0 embarked on efforts to reduce these prices. PSN President, Professor Cyril Usifoh, revealed these initiatives during a briefing in Uyo, Akwa Ibom State, following the National Council meeting on Monday. Professor Usifoh emphasized that […]<\/p>\n","protected":false},"author":14,"featured_media":41965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-41964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=41964"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41964\/revisions"}],"predecessor-version":[{"id":41966,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/41964\/revisions\/41966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/41965"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=41964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=41964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=41964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}