The Nigeria Medical Association (NMA) Lagos State chapter has sounded an alarm regarding the escalating prices of drugs and medical services, highlighting the dire consequences for Nigerians’ access to quality healthcare.
Dr. Benjamin Olowojebutu, the Chairman of the state branch, emphasised the pressing need for the Federal Government’s intervention to address the growing inability of citizens to afford essential medical care due to soaring costs.
Expressing concern over recent reports of pharmaceutical companies exiting the market, Olowojebutu urged proactive measures to mitigate the adverse effects of these departures, which have resulted in significant hikes in drug prices nationwide.
In a statement, Olowojebutu stressed the necessity for innovative approaches, collaborative efforts, and a proactive stance to tackle the economic challenges afflicting the health sector and patients.
“The unaffordability of medical services must be addressed. In an era of expensive healthcare and budget constraints, we must explore sustainable models that ensure both the financial stability of healthcare institutions and the affordability of services for patients,” the statement read.
Drawing attention to the staggering rise in drug prices that have rendered them beyond the reach of many citizens, the NMA chairman advocated for increased investment in the health sector, highlighting its crucial role in national resilience and productivity.
The statement underscored the unsettling trend of pharmaceutical companies exiting the market, triggering a sharp increase in drug prices and disrupting established patterns of drug accessibility and affordability due to a decline in purchasing power.
Olowojebutu emphasised the imperative of heightened advocacy for increased budgetary allocations to the health sector, emphasising the crucial need to utilise allocated resources efficiently.