Experts Warn of Impending Decrease in Life Expectancy in Nigeria Due to Soaring Drug Prices
Nigerians are facing a looming threat to their health as the cost of essential pharmaceutical products, including malaria, antibiotics, anti-diabetes, and hypertension drugs, continues to rise. This worrying trend has raised concerns about a potential increase in mortality rates and a decrease in life expectancy.
The escalation in drug prices has been unprecedented, with retail prices skyrocketing by as much as 300% on a daily basis. This surge in pharmaceutical inflation is exacerbating the existing challenges posed by food inflation, which spiked to 40.01% in March.
Recent market surveys have revealed staggering price hikes in commonly used drugs across Nigeria. For instance, the prices of antibiotics and malaria medications like Tavernic have surged from N11,370 to N25,735 since Jan...