Tinubu’s Executive Order Fails as Drug Prices Soar Across Nigeria Despite Tax Waivers
Story Written By Okafor Joseph August 25,202 President Bola Ahmed Tinubu’s executive order, introduced on June 30, 2024, to slash the cost of drugs and pharmaceutical products in Nigeria has failed to ease the financial burden on citizens.
The policy, announced by the Minister of Health, Muhammed Ali Pate, was expected to reduce drug prices by eliminating tariffs, excise duties, and Value Added Tax (VAT) on essential raw materials, equipment, and machinery needed for pharmaceutical production. The order also aimed to strengthen local drug manufacturers and improve access to affordable medicines through the Federal Executive Council–approved “Medipool” system for competitive drug supply nationwide.
However, over a year after its launch, prices of essential medicines remain on the rise, with many life-saving drugs now out of reach for ordinary Nigerians.
A recent market survey revealed steep price hikes across major categories:
- Diabetes treatment: Insulin surged by 29%, rising from ₦14,000 in June 2024 to ₦18,000 in August 2025, while a glucometer jumped 41%, from ₦20,500 to ₦29,000.
- Hypertension drugs: Metformin climbed 30% (₦500 to ₦650), amlodipine rose 33% (₦1,800 to ₦2,400), and Exforge skyrocketed by 83% (₦32,800 to ₦60,000).
- Malaria treatment: Prices nearly doubled. Coartem soared 124% (₦3,800 to ₦8,500), Artesunate injection rose 56% (₦1,600 to ₦2,500), and Lokmal tablets spiked 104% (₦1,200 to ₦2,450).
Despite the general trend of rising costs, a few drugs recorded slight price drops. Augmentin fell 24% from ₦18,500 to ₦14,000, while the Ventolin inhaler declined by 12% from ₦8,500 to ₦7,500.
Health experts argue that inflation, rising import costs, and foreign exchange challenges have neutralized the benefits of the executive order, leaving millions of Nigerians struggling to afford essential medicines.rder, introduced on June 30, 2024, to slash the cost of drugs and pharmaceutical products in Nigeria has failed to ease the financial burden on citizens.
The policy, announced by the Minister of Health, Muhammed Ali Pate, was expected to reduce drug prices by eliminating tariffs, excise duties, and Value Added Tax (VAT) on essential raw materials, equipment, and machinery needed for pharmaceutical production. The order also aimed to strengthen local drug manufacturers and improve access to affordable medicines through the Federal Executive Council–approved “Medipool” system for competitive drug supply nationwide.
However, over a year after its launch, prices of essential medicines remain on the rise, with many life-saving drugs now out of reach for ordinary Nigerians.
A recent market survey revealed steep price hikes across major categories:
- Diabetes treatment: Insulin surged by 29%, rising from ₦14,000 in June 2024 to ₦18,000 in August 2025, while a glucometer jumped 41%, from ₦20,500 to ₦29,000.
- Hypertension drugs: Metformin climbed 30% (₦500 to ₦650), amlodipine rose 33% (₦1,800 to ₦2,400), and Exforge skyrocketed by 83% (₦32,800 to ₦60,000).
- Malaria treatment: Prices nearly doubled. Coartem soared 124% (₦3,800 to ₦8,500), Artesunate injection rose 56% (₦1,600 to ₦2,500), and Lokmal tablets spiked 104% (₦1,200 to ₦2,450).
Despite the general trend of rising costs, a few drugs recorded slight price drops. Augmentin fell 24% from ₦18,500 to ₦14,000, while the Ventolin inhaler declined by 12% from ₦8,500 to ₦7,500.
Health experts argue that inflation, rising import costs, and foreign exchange challenges have neutralized the benefits of the executive order, leaving millions of Nigerians struggling to afford essential medicines.
