Nigeria’s inflation rate has surged to 40.01% in March 2024, causing a significant increase in drug prices and further limiting access to healthcare services for many Nigerians. The rising costs of food, utilities, and other essentials have made it difficult for people to afford necessary prescriptions, forcing some to seek alternative herbal treatments.
The prices of antimalarial drugs have increased by 11-23% between November 2023 and April 2024, making it difficult for patients to afford life-saving medications. This has led to a concerning increase in the purchase of cheap but potentially dangerous counterfeit drugs.
Patients with terminal illnesses are struggling to access essential drugs, and many are turning to unapproved alternatives. The situation is dire, with many families unable to afford the necessary medications, and some are even resorting to drug hawkers.
Medical professionals and experts are warning about the dangers of resorting to fake and unapproved alternatives. They emphasize the need for consistent electricity, stable foreign exchange rates, and sound fiscal policies to address the situation.
The government has acknowledged the challenges facing the healthcare sector, including high import-dependency, limited local manufacturing, and financial barriers. Efforts are being made to encourage local drug manufacturers, enhance collaboration between the public and private sectors, and ensure the delivery of high-quality services and products.
However, more needs to be done to address the root causes of the crisis and ensure that Nigerians have access to affordable and quality healthcare services.