Drug manufacturers in Nigeria have appealed to the Federal Government to as a matter of urgency, make foreign exchange available to help them, so as to help cushion the effects of subsidy removal on their operations.
The pharmacist maintained that the move was a welcome development, pointing out that only a few were benefiting from fuel subsidy.
Rahman, however, said if the FG makes forex available to manufacturers and also enforce a unified exchange rate, the effect of the fuel subsidy removal on the cost of drugs would be minimal, and drugs would still be accessible and affordable to patients. “Accessibility of forex will wear out the negative effects of all these impacts. It is going to affect the prices of drugs, but it is going to be marginal. If the government should do its homework well and make forex available, it will definitely reduce the prices of drugs.
The pharmacist reaffirmed that access to forex has not been easy for drug manufacturers, adding that the removal of the fuel subsidy will further worsen the challenges faced by manufacturers in the pharmaceutical industry by increasing the cost of production.
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