President Bola Tinubu’s June 2024 executive order abolishing tariffs, excise duties, and VAT on pharmaceutical machinery and raw materials was supposed to bring relief to patients. But over a year later, drug prices in Nigeria have instead skyrocketed — with some medicines surging by more than 100%.
Despite the Nigeria Customs Service announcing implementation in March 2025, a market survey shows the policy has not eased the pain for households battling chronic conditions.
📈 Price Shocks (June 2024 → August 2025):
Diabetes/Hypertension:
- Insulin: ₦14,000 → ₦18,000 (+29%)
- Glucometer: ₦20,500 → ₦29,000 (+41%)
- Amlodipine: ₦1,800 → ₦2,400 (+33%)
- Exforge: ₦32,800 → ₦60,000 (+83%)
Malaria:
- Coartem: ₦3,800 → ₦8,500 (+124%)
- Artesunate injection: ₦1,600 → ₦2,500 (+56%)
- Lokmal: ₦1,200 → ₦2,450 (+104%)
Few drops:
- Augmentin: ₦18,500 → ₦14,000 (–24%)
- Ventolin inhaler: ₦8,500 → ₦7,500 (–12%)
⚠️ Stakeholders, including the Association of Community Pharmacists of Nigeria, blame the non-implementation of the order, Nigeria’s heavy dependence on imports, high forex rates, and rising energy costs.
ACP President Ambrose Ezeh said bluntly:
“The executive order has not been implemented. With 75% of our drugs imported and forex at record highs, there’s no way medicine prices will fall.”
For millions of Nigerians living with diabetes, hypertension, and malaria, the rising cost of drugs is fast becoming a life-or-death crisis.
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