Forex rate is causing many drugs to no longer be on the shelves- Pharmacists

Now that there is a shortage of foreign exchange in the country, experts have observed that many important drugs in Nigeria are gradually disappearing while prices of the available ones have gone so high that only few people can afford it.


The experts under the umbrella of Association of Community Pharmacists, ACPN, Lagos State branch, said that if this problem continues, it may endanger the health of Nigerians. They also called on the Federal government to activate the Pharmaceutical Intervention Fund, PIF, to boost local production of medicines.

Making this known during the ACPN Day held in Lagos,  Chairman of the Lagos ACPN, on the theme tagged, “Advancing Community Pharmacist Leadership Roles Through Health Education, Pharm.Biola Paul-Ozieh, noted that the high foreign exchange rate and the consequent high cost of purchase and importation of medicines were discouraging importers as they are unable to get their funds back when they sell their products in the country.

“The situation has also caused the increase in prices of products that have been imported. It is currently affecting the affordability of medicines among the ordinary Nigerians who pay-out-of-pocket for their healthcare. For us to be able to have Universal Health Coverage, we must have affordable medicine.”

Paul – Ozieh also said: “The National Drug Policy also indicate that we must be able to make our medicines locally. If today in Nigeria, 80 percent of the drugs we use are made locally, the drugs will be more affordable to the populace.”

She explained that the PIF would serve as a revolving fund for drug manufacturers who need capital to build local manufacturing plants, thereby reducing the country’s dependence on imported drugs. “Government needs to encourage local manufacturers and put petrochemical industries in place, so that raw materials will be available and manufactures can source their raw materials locally. That way, we will be self-sufficient in terms of drugs production and administration in the country.”

She also stressed the need for Nigerians to know the right places to access medicines, adding that any pharmacy that does not have the green cross sign should not be patronised.

“Do not go to any pharmacy without the sign, because there is no guarantee that their drugs are authentic, buying drugs from quacks and unprofessionals could cause more harm to your body,” she stated.

Source: Vanguard