Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, has explained how Medipool plan will crash prices of medicines and pharmaceuticals.

In a video made available at the weekend, Pate said procurement of medicines in bulk by the government in a public-private partnership arrangement will reduce the high cost of medicines and consumables.

He said: ?Medipool is an innovative group purchasing organization created to shape our domestic market by organising and activating real demand, negotiating competitive pricing, ensuring quality, and enabling efficient supply chain management.

?It will also offer predictable offtake for local manufacturers of essential medicines and healthcare products?, he said.

According to him, the Medipool platform will initially serve Nigerians through the Basic supports over 37 million citizens? access services in Primary Healthcare Centers (PHCs) across the country.

He said: ?Eventually, Medipool will expand to include Federal tertiary hospitals and the private sector.?

He said the scheme aligns with broader reforms under the Presidential Initiative to Unlock the Healthcare Value Chain (PVAC), which seeks to boost local production of pharmaceutical products to 70 per cent of domestic consumption.

Besides, the scheme will also boost employment in the sector to at least 50,000 full-time jobs from the current estimate of 20,000.

?These are not theoretical steps or abstract policies. These are concrete actions we are currently implementing,? he noted.

Highlighting the critical role played by President Bola Ahmed Tinubu in creating an enabling environment for local manufacturing, Pate cited the June 2024 Executive Order which provided tariff waivers on raw materials for pharmaceutical production and other essential health products.

The minister said: ?That giant step encouraged international financiers to look towards Nigeria. The European Investment Bank has identified significant opportunities in local medical supplies manufacturing.

?Similarly, AfriExim Bank has earmarked at least $1 billion to facilitate supply-side growth in pharmaceuticals, biologics, and essential medical devices in Nigeria.?

He, however, underscored the importance of not just increasing supply but also stimulating domestic demand to ensure a well-balanced, sustainable ecosystem for health product manufacturing.

?If we get this right and regulate it appropriately, Nigeria will not only build a healthier healthcare market but also play a leading role in shaping healthcare outcomes across the African continent,? he stressed.

Citing the recently inaugurated Codex Bio Ltd Rapid Diagnostic Test Kit Production Complex in Ogun State as one of the tangible results of the new strategy, the minister added that the plant has capacity to produce over 147 million test kits annually for diseases such as HIV, malaria and hepatitis.

Pate said Codex Bio had become the first African manufacturing partner under the World Health Organisation?s (WHO) Health Technology Access Pool (HTAP), in partnership with SD Biosensor of South Korea and the Medicines Patent Pool (MPP).

He said: ?This is a transformative leap for Nigeria, it positions Codex Bio at the forefront of rapid diagnostic test production in Africa and strengthens global health security.?

The minister also cited the newly commissioned Betalactam facility in Lagos, developed by Jawa Investments Ltd, as another major milestone, noting that the facility will produce essential antibiotics like amoxicillin-clavulanic acid, bringing Nigeria closer to self-sufficiency and potentially lowering costs for consumers.

?These developments are being driven by Nigeria?s resilient private sector,? he said.

He listed Emsos Active Pharmaceutical Ingredient (API) plant; Fitsins Pharmaceuticals expansion; Naseni Fromant Diagnostics and Ash Biomedical among other upcoming ventures.

?These efforts reflect the entrepreneurial spirit Nigerians are known for. They are responding to policy reforms that the federal government has undertaken,? Pate added.

By reiterating the administration?s commitment to transforming the health sector into a catalyst for national development, the minister stressed.

?All of this is possible because we elected a President who understands business and prioritizes health as a core pillar for the development of our nation.?

The minister praised his Federal Executive Council (FEC) colleagues for their support.

He listed them as former Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite (now Minister of State for Finance), Minister of Industry, Trade and Investment Ministers Jumoke Oduwole and former Minister for Women Affairs, Mrs. Uju Kennedy-Ohanenye. (The Nation)