The President of the Nigerian Medical Association (NMA), Dr. Uche Ojinmah, said that the rising healthcare costs are plunging Nigerians deeper into poverty.
Speaking at a webinar organized by TheCable to mark its 10th anniversary, Dr. Ojinmah stressed the urgent need for comprehensive action to address the alarming rise in the prices of essential medicines and medical consumables across Nigeria.
Titled ‘Addressing escalating costs of medicines,’ the virtual event aimed to catalyze dialogue among key stakeholders to identify practical solutions to alleviate the dire situation and ensure equitable access to essential healthcare. Despite earlier promises, the government’s delay in issuing an executive order to curb escalating drug prices has only exacerbated the situation.
Dr. Ojinmah stated that illness not only affects individual productivity but also has far-reaching implications for national economic well-being. He advocated for the establishment of a health sector development bank to support the local pharmaceutical industry, emphasizing that failure to address healthcare inequality would perpetuate a cycle of poverty, with the wealthy able to afford treatment while the poor face increasing hardships.
“If we cannot bridge the inequality in the health sector, the rich that can afford the drug will stay healthy and stay rich while the poor would be on a downward spiral,” Dr. Ojinmah warned, expressing concerns that worsening conditions could lead to social unrest.
The NMA president urged the government to translate plans into actionable policies, emphasizing the need to link good health outcomes with economic prosperity. He called for increased penetration of the National Health Insurance Scheme to reduce out-of-pocket expenditures, providing a crucial lifeline for Nigerians grappling with rising healthcare costs.
