A prominent member of the All Progressives Congress (APC) in Osun, Mr. Olatunbosun Oyintiloye, has called on President Bola Tinubu to promptly intervene in the surge of prices for vital drugs in the nation. Oyintiloye conveyed this plea while addressing journalists on Sunday in Osogbo, expressing concern that the current escalation in drug prices has made it difficult for many Nigerians to afford essential medications

He pointed out that the rising prices of drugs could be attributed to various factors, including the high inflation rate and the devaluation of the Naira. Citing data from the National Bureau of Statistics (NBS), Oyintiloye stated that the value of imported medicines into Nigeria surged by 68 percent to N81.8 billion between July and September.

Oyintiloye, a former legislator, highlighted that the substantial increase in drug prices is imposing a considerable financial burden on individuals and families already grappling with the challenges of a harsh economic environment. He emphasized that the weakening of the local currency against foreign currencies results in higher expenses for procuring essential medical supplies, ultimately leading to a general upswing in medicine prices across the country.