Nigeria spent N3.06 trillion on importing pharmaceutical products in six years, according to data from the Raw Materials Research and Development Council (RMRDC).
The data exposes a growing over-reliance on imported medicines and underscores the need for urgent intervention to safeguard the nation’s health security.
According to the RMRDC report, Nigeria spent the sum of N126.1 billion on pharmaceutical imports in 2016 while the figure reduced marginally to N118.9 billion in 2017. 2018 saw an increase to N185.5 billion.
Within the next four years, the figures would increase exponentially, with imports in 2019 hitting N520 billion. In 2020, Nigeria spent N1 trillion to import pharmaceuticals, largely due to COVID-19.
In 2021 and 2022, N544.4 billion and N445.7 billion were spent to import pharmaceutical products into Nigeria, respectively.
In contrast, the country managed to export products worth a mere N3 billion during this period, resulting in a significant trade deficit of N3.03 trillion.
Members of the Pharmaceutical Society of Nigeria (PSN) have expressed apprehension, warning that if decisive measures are not taken to address the over-reliance on imported pharmaceuticals, the nation could face a public health crisis.
The PSN has cited the scarcity of foreign exchange as a critical factor contributing to the escalating problem.
Abasiama Uwatt, the Chairman of the Akwa Ibom State branch of PSN, emphasized the gravity of the situation, pointing out that drug prices have doubled within the last year due to the forex crisis.
She stressed that the current dependence on imported medicines poses a severe threat to the local industry and the national economy, emphasizing that disruptions in the medicine supply chain have become a national security issue.
Mfonobong Okon, the chairman of the communique drafting committee for PSN 2023 week, attributed the reliance on imported drugs to policy somersaults by the government.
He emphasized the need for consistent and well-implemented policies to encourage local production and ensure medicine security for the Nigerian population.
The alarming statistics highlight the imperative for immediate and coordinated efforts to enhance local pharmaceutical production, reduce dependency on imports, and secure the nation’s health infrastructure.
Addressing policy inconsistencies and fostering an environment conducive to local pharmaceutical manufacturing is crucial to mitigating the looming healthcare crisis.
