By Muhammad Amaan with agency report
The Nigerian Medical Association (NMA) said Nigeria should develop a health sector development bank to help the local pharmaceutical industry.
NMA President Dr Uche Ojinmah said this at a webinar organised by TheCable to commemorate its 10th anniversary.
The webinar, titled ‘Addressing escalating costs of medicines,’ is a virtual event aimed at igniting a comprehensive dialogue on the alarming rise in the prices of essential medicines and medical consumables across Nigeria.
PUNCH Healthwise reports that the webinar serves as a call to action, bringing together key stakeholders to identify practical solutions that can alleviate the dire situation and ensure equitable access to essential healthcare.
On February 28, the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate said the Federal Government would issue an executive order to curb escalating drug prices in the country.
He explained that the executive order is a short-term goal meant to reduce drug prices.
However, two months down the line, the government has yet to sign the order amidst skyrocketing costs of drugs and economic hardships.
Speaking at the webinar, Ojinmah said the health sector is important because when people are sick, their productivity decreases.
He lamented that the rising costs of healthcare are pushing Nigerians deeper into poverty.
“Nigerians are going deeper into poverty as a result of purchasing healthcare. Nigeria should develop a health sector development bank to help the local pharmaceutical industry.
“If we can’t bridge the inequality in the health sector, the rich that can afford the drug will stay healthy and stay rich while the poor would be on a downward spiral.
“We will have a problem on our hands because there is a point it will get to and people will no longer sit in their houses and die but move into the streets and seek a solution,” the NMA president said,
He, however, urged the government to move away from planning to roll out policies for the good of the people.
“It is the position of the NMA that we should move from planning to rolling out policies. We call on the government to link up good health indices with good economic outcome
“We should increase the penetration of the National Health Insurance Scheme to reduce out-of-pocket expenditures,” Ojinmah added.
