• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

FG to sign executive order to curb escalating drug prices

Chike Olisah by Chike Olisah
February 28, 2024
in Energy, Sectors
Pate to address demands of health worker associations in Nigeria

Prof. Muhammad Ali Pate

Share on FacebookShare on TwitterShare on Linkedin

The Federal Government has announced that it will soon issue an executive order to curb the escalating drug prices across the country.

This was made known by the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, at the third edition of the ministerial press briefing series initiated by the Ministry of Information on Wednesday, February 28, 2024 in Abuja.

Prof Pate explained that the executive order is a short-term goal in reducing drug prices.

RelatedStories

Nigeria’s disease burden could reach 21% due to climate change – Report

FG to unveil 3 cancer centres, targets 2,000 patients, and 350,000 diagnostics annually

May 25, 2025
Nigeria’s disease burden could reach 21% due to climate change – Report

Health Minister urges pharma companies to use government waivers to boost inhaler affordability for Nigerians

May 7, 2025

He added that the Federal Government’s mid to long-term goals in reducing drug prices involve the domestication of imported drugs within the next 3 years in collaboration with the Federal Ministry of Industry, Trade and Investment.

The minister noted that pharmaceutical-grade warehouses at the federal level will be commissioned in April 2024.

FG to construction pharmaceutical-grade warehouses in 21 states

  • Pate said, “The rising cost of pharmaceuticals is a pressing concern, and we are taking decisive action to address this issue. An executive order will soon be issued to curb escalating drug prices in the short term, while our mid to long-term goal involves the domestication of imported drugs within the next three years, in collaboration with the Ministry of Trade.
  • “In a strategic move to fortify the pharmaceutical infrastructure across the nation, the Federal Government initiated the construction of pharmaceutical-grade warehouses in 21 states in collaboration with Drug Management Agencies.
  • “Two additional warehouses at the federal level are also underway, complemented by the installation of the Warehousing Management Information System– M Supply, in these 21 pharma-grade warehouses. This visionary project commenced in October 2023, is slated for completion in March 2024, with a scheduled commissioning in April 2024.”

FG secures $1 billion pledge from Afreximbank

The minister stated that the implementation of Warehousing Management Information System (WMIS) is expected to significantly enhance accountability and transparency, ensuring the potency of public health medicines and other health commodities.

  • He said, “This infrastructure development aligns with our commitment to improving health outcomes for citizens nationwide.
  • ‘’Furthermore, the government has taken strides in advancing healthcare data management. Essential medicines and narcotics utilisation across the three levels of healthcare have been successfully onboarded onto the National Health Logistics Management Information System platform.
  • “This decisive step not only strengthens our international image by enhancing medicines reporting but also establishes a robust framework for monitoring and optimising the supply chain. In addition, the Federal Government has led the development of the maiden National Policy on Cosmetics Safety in Nigeria, a crucial policy that will guide the production and safe use of cosmetics in the country.
  • “Moreover, the development of two Unified Food Safety Training Manuals, focusing on Hazard Analysis and Critical Control Point principles, as well as the requirements for Good Hygiene and Manufacturing Practices along the food supply chain, underscores our commitment to promoting food safety and hygiene practices across the nation.”

He added that the government’s efforts to promote medical industrialisation are gaining momentum.

  • He said, “Through strategic partnerships and funding initiatives, we are unlocking the full potential of our healthcare sector. I am pleased to announce that the Ministry has secured a $1bn pledge from Afriexim bank, alongside commitments from foreign partners, to support our endeavors in this regard.’’

Follow us for Breaking News and Market Intelligence.
Tags: escalating drug pricesExecutive OrderProf. Muhammad Ali Pate
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

Nigeria’s disease burden could reach 21% due to climate change – Report
Health

FG to unveil 3 cancer centres, targets 2,000 patients, and 350,000 diagnostics annually

May 25, 2025
Nigeria’s disease burden could reach 21% due to climate change – Report
Health

Health Minister urges pharma companies to use government waivers to boost inhaler affordability for Nigerians

May 7, 2025
FG, Nasarawa sign MoU to convert Dalhatu Araf hospital into federal teaching hospital 
Health

FG, Nasarawa sign MoU to convert Dalhatu Araf hospital into federal teaching hospital 

May 5, 2025
Nigeria’s disease burden could reach 21% due to climate change – Report
Health

Nigeria has spent $500 million on polio eradication, but challenges remain – Health minister 

February 28, 2025
Trump signs executive order to withdraw US from World Health Organization 
"Japa"

Trump issues order to enhance U.S. immigration security and prevent national security threats 

January 22, 2025
Nigeria expresses concern over Trump’s tariff and taxation strategy on foreign countries 
Energy

Trump issues executive order to increase oil drilling, reverses Biden’s anti-fossil fuel policies  

January 21, 2025
Next Post
Pure Water sachets prices to soar to N100 per sachet as production costs hit record highs  

Pure Water sachets prices to soar to N100 per sachet as production costs hit record highs  

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
Zenth Bank
first bank
Zenth Bank








DUNS

Recent News

  • Senate approves N1.8 Trillion 2025 Statutory Appropriation FCT Bill, targets ongoing projects, others 
  • FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 
  • Federal Government to establish 7,000 digital hospitals in rural communities — Dr. Bosun Tijani 

Follow us on social media:

Recent News

Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness

Senate approves N1.8 Trillion 2025 Statutory Appropriation FCT Bill, targets ongoing projects, others 

May 28, 2025
FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 

FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 

May 28, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics