President Bola Ahmed Tinubu’s executive order aimed at reducing drug prices in Nigeria has not yielded the intended results, as the cost of essential medicines continues to rise. The order, announced on June 30, 2024, was designed to encourage local production by removing tariffs, excise duties, and Value Added Tax on pharmaceutical machinery, raw materials, and finished products.
Despite these measures, a market survey shows sharp price increases across several commonly used medicines. Insulin rose 29 percent from ₦14,000 in June 2024 to ₦18,000 in August 2025, while glucometers jumped 41 percent from ₦20,500 to ₦29,000. Hypertension drugs also spiked, with metformin climbing 30 percent to ₦650, amlodipine up 33 percent to ₦2,400, and Exforge soaring 83 percent to ₦60,000.
The situation is more severe for malaria treatment. Coartem, a widely prescribed antimalarial, nearly doubled in price by 124 percent, from ₦3,800 to ₦8,500. Artesunate injection increased 56 percent to ₦2,500, while Lokmal tablets more than doubled to ₦2,450. Patients battling chronic and infectious diseases are among the hardest hit by the hikes.
However, a few drugs recorded slight price declines. Augmentin dropped 24 percent to ₦14,000, while Ventolin inhalers fell by 12 percent to ₦7,500. The mixed trend suggests that the executive order has yet to bring the broad relief expected for Nigerian patients and healthcare providers.
