Spotlights
Nigerians to pay more than 100% for drugs during Christmas season
Drug prices in Nigeria have risen more than 100% ahead of Christmas, creating worse financial burdens and raising concerns about access to essential medications during the festive season, according to Nairametrics.
Prices of drugs used in the treatment of common diseases such as malaria and high blood pressure have more than doubled in some cases, a Nairametrics survey conducted in Lagos and Abuja shows.
This is amid a galloping inflationary pressure.
This is shown in the 135% increase in the prices of some anti-malaria drugs and 83% for some drugs used in managing high blood pressure.
The sharp price increases are not limited to these drugs. Other essential treatments like antibiotics and insulin have experienced hikes of up to 157%, placing an additional financial burden on families already stretched thin by rising living costs.
Meanwhile, Nigeria’s naira has lost 72% of its value since the naira float reforms in June 2022, hitting N1,658 per dollar at the Nigerian Autonomous Foreign Exchange Market on Tuesday, data from FMDQ showed.
Pharmacists say weak naira and inflation have continually spiked the prices of pharmaceutical raw materials used in the manufacturing of drugs as over 80% of the production components are imported.
With Christmas nearing, Nigerians are forced to make tough decisions, balancing health needs with holiday expenditures. Many residents describe the current cost of prescription drugs as “unreasonable” and are calling for urgent measures to reduce prices.
Price changes
A survey reveals an increase in the prices of essential medications in Abuja.
The cost drugs such as Coartem, Augmentin, and insulin—critical for managing malaria, infections, and diabetes —have seen substantial price surges in recent months in Abuja. A comparison between 2023 and 2024 shows the severity of this trend.
Coartem (Antimalarial)
Coartem, a commonly used antimalarial, has seen a dramatic price surge. In early 2023, a dose cost just N1,200 but climbed steadily to N3,500 by mid-year. By October 2024, it reached N4,500, before spiking to N6,000—marking an overall increase of over 135% since 2023.
Augmentin (Antibiotic)
Supply chain disruptions have fueled sharp fluctuations in the price of Augmentin. The children’s suspension (228mg) now costs N9,000, up 157% from N3,500 earlier this year. Meanwhile, the adult dose (1g) has stabilized at N15,200, a decrease from a peak of N30,000 last year, though still prohibitively expensive for many.
Seretide (Asthma Treatment)
Asthma patients face steep challenges with Seretide, as its price has soared from N6,500–N7,500 in early 2023 to ₦30,000—a 361% increase. The absence of affordable alternatives has left many struggling to manage their condition.
Hormoni (Insulin for Diabetes)
For diabetes patients, the cost of Hormoni insulin surged by 155%, rising from N5,650 in January 2023 to N13,500–N14,500 by late 2023. However, its current unavailability has forced patients to switch to Misater 30 insulin, which has also seen a 160% hike, from N7,500 in 2023 to N19,500 in 2024.
Other Price Increases
The price of blood pressure medications rose from N550 to N950, a 73% jump, adding to the strain on households.
Even over-the-counter drugs have not been spared. Paracetamol, for example, has seen an 820% increase—from N25 in 2023 to N230 in 2024. Similarly, a sachet of Panadol now costs N550, further compounding financial challenges for families.
Survey highlights current prices in Lagos pharmacies
Lagos pharmacies have shown the current price increases for essential medications, particularly those used to manage blood pressure, infections, and cholesterol.
Blood Pressure medications
Amlodipine: Prices range from N1,400 for the 5mg tablet to N1,700 for the 10mg dosage.
Ramipril: The 10mg tablet costs between N2,500 and N3,000, depending on the pharmacy.
Lisinopril: Prices vary by dosage, with the 5mg tablet at N1,500, the 10mg at N2,500, and the 25mg at N4,000.
Moduretic: A common diuretic for hypertension is sold at N400.
Co-approval 10/150: A combination drug, now priced at N15,000.
Antibiotics
Amoxil: The 250mg tablet is priced at N2,000, while the 500mg dosage costs N3,500.
Augmentin: Prices range from N9,000 for the 457mg tablet to N18,000 for the 1g dose.
Cholesterol management drugs
Atorvastatin: Costs N3,500 for the 10mg tablet and N4,500 for the 20mg dosage.
Simvastatin: Available at N3,000.
Plagerin: Priced at N5,500, further emphasizing the financial burden on those managing chronic conditions.
The struggle for health amid rising costs
For many Nigerian families managing chronic illnesses, the festive season has become a period of financial strain, overshadowed by the pressing need to prioritize health over celebrations.
Families like that of Mrs. Yetunde Akinwale in Lagos are grappling with tough trade-offs. “My husband has hypertension, and I have diabetes. Together, we spend nearly N35,000 monthly on drugs. This Christmas, we’re cutting back on gifts and food to ensure we have enough for our medicines,” she shared with Nairametrics.
In Abuja, Nkechi, a mother of three, reflects on the escalating cost of her medications.
“In 2023, I spent almost N80,000 on hypertension and diabetes drugs. By December 2024, my blood pressure medication now costs N3,500 monthly, up from N1,500 last year, and my insulin rose from N7,500 to N14,000. I’ve spent everything I had this year on my health,” she laments.
Experts’ analysis of price hikes
Health economist Dr. Uchenna Eze attributes the rising costs to Nigeria’s dependency on imported pharmaceutical ingredients, compounded by the forex crisis.
“Over 80% of the active pharmaceutical ingredients (APIs) used locally are imported. The forex challenges have driven up import costs, and with limited local production capacity, the situation has worsened,” he explained.
Eze warns of the broader implications: “Unaffordable medicines lead to poorer health outcomes and increased strain on the healthcare system as preventable conditions turn into emergencies.”
Pharmacists echo these concerns. Mr. Peter, a pharmacist in Lagos, observes a troubling trend: “Patients are skipping doses or opting for cheaper, less effective alternatives. This is dangerous and could lead to severe complications.”
Similarly, Tochukwu, a pharmacist in Apo, Abuja, highlights the burden on both patients and sellers.
“Diabetes medications are now so expensive that customers often break down in tears. Last week, a woman came in crying because her usual diabetes medication had jumped from N6,000 to N19,000. It’s heartbreaking, she noted”
Pharm. Patrick Ajah, Managing Director of May & Baker PLC, points to the forex crisis as a major driver of the price hikes.
“The exchange rate has risen from N461 to N1,600–N1,700 per dollar in two years—a depreciation of over 300%. Pharmaceutical companies are incurring losses, making price stabilization nearly impossible without government support,” he cautioned.
Calls for government intervention
Pharmacists and industry leaders are advocating for targeted measures to alleviate the crisis. Suggestions include:
Forex Reforms: Addressing the forex challenges to stabilize import costs.
Local Production Support: Investing in domestic pharmaceutical manufacturing to reduce reliance on imports.
Subsidies for Essential Drugs: Providing subsidies, particularly during festive seasons, to ease household burdens
Nairametrics
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Spotlights
VIDEO: Popular Prophet Mentions 3 Tinubu’s Ministers Working With Coalition Ahead 2027 Polls
Primate Elijah Ayodele, the leader of the INRI Evangelical Spiritual Church, has issued a compelling prophetic warning regarding three current ministers in President Bola Tinubu’s administration.
He confidently asserts that these ministers are poised to collaborate with the ADC coalition, a move he believes will substantially undermine the president’s political future.
In a recent prophetic broadcast on Facebook, Primate Ayodele stated that this betrayal within Tinubu’s cabinet would take many by surprise.
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According to him, the ministers are actively aligning themselves with an emerging opposition coalition, and their eventual actions will shake the foundation of the ruling All Progressives Congress (APC).
“Three of Tinubu’s ministers will be playing along with the coalition, and that will hit Tinubu,” Ayodele declared. He warned that the alignment was not mere speculation but a spiritual certainty, urging the presidency to tighten its internal political controls and assess the loyalty of those in top government positions.
Ayodele criticized the rising insecurity and political manipulation within the country, urging Nigerians to pray and political leaders to refocus on good governance, not selfish ambitions. He stressed that internal betrayal from trusted allies is often more dangerous than external attacks.
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Spotlights
Alleged Money Laundering: How I Paid $3 Million Into Aisha Achimugu’s Company’s Account – Witness
Trinity Usman, an Economic and Financial Crimes Commission’s (EFCC) witness, on Friday, told the Federal High Court, Abuja Division, that he received and transferred three million dollars into Aisha Achimugu’s company account.
Mr Usman, the 2nd prosecution witness (PW-2), told Justice Emeka Nwite while being led in evidence by the EFCC’s lawyer, Ekele Iheanacho, SAN.
The PW-2, a Bureau De Change (BDC) operator, spoke in the ongoing trial of Halima Buba, managing director of SunTrust Bank, and her co-defendant, Innocent Mbagwu, the executive director/chief compliance officer of the bank.
The duo are being prosecuted on money laundering offences to the tune of $12 million.
In a six-count charge, they were alleged to have aided high-value cash transactions without routing them through a financial institution.
The offence is said to be contrary to Section 21(a), 2(1), and 9(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 19(2)(b) of the same Act.
The defendants were, on June 13, arraigned by the anti-graft agency.
They, however, pleaded not guilty to the counts, and admitted to a N100 million bail with one surety, each in like sum.
At the resumed trial, the witness said he was in court to tell what he knew about the transactions he did with Oceangate Engineering Oil & Gas Ltd, owned by Mrs Achimugu.
Mr Usman, who said he was a businessman and general contractor, said he was also into agro allied and oil business.
He said he carried out the businesses with companies or registered names.
He said his companies include Triple A and Tee Service Venture, T.M. Agro Allied Farm, Triple A and D Oil and Gas Ltd, Triple A and Tee BDC Ltd, among others.
“Sometimes in April 2025, one Suleiman Ciroma contacted me that he had a transaction that he needed 3 million US dollars to (be transferred to) Oceangate Engineering Oil & Gas Ltd.
“In that particular time, I have the money being in my Triple A and Tee Oil and Gas Nig Ltd account.
“After we agreed with him, Suleiman Ciroma gave me the dollar payment in cash.
“I paid him the dollars into Oceangate Engineering Oil and Gas Ltd account,” he said.
He said the payment was made in April 2025
“Can you remember the exact date you made the payment?” Iheanacho asked.
“I made the transfer in four tranches but I cannot remember the exact day,” the witness responded.
However, when the lawyer asked the witness if he knew Messrs Buba and Mbagwu, he said he did not know them.
“Take a look at the dock and tell the court if you know the defendants,” Mr Iheanacho asked and the witness simply said, “No.”
Mr Usman told the court that he did the transactions with Triple A and Tee Oil Nig Ltd.
“It was from there I transferred the dollars into Oceangate Engineering Oil and Gas Ltd,” he said.
But when Mr Iheanacho asked the PW-2 if his BDC company, Triple A and Tee BDC Ltd, featured in the transaction, counsel for the 1st defendant (Buba), Johnson Usman, SAN, raised an objection.
The senior lawyer argued that Iheanacho’s question was a ploy to give the witness tips on what to say and the judge directed him to rephrase the question.
The witness said that the licence of Triple A and Tee BDC Ltd, as at the time of the transactions, had been suspended.
He said the cash transactions from Mt Ciroma were made through his staff.
He mentioned the names of the staff as Abdulkadir Mohammed and Kabir Haruna.
The BDC operator also said that he equally did a naira to dollar transaction with Ciroma.
“The naira was transferred into a Triple A and Tee Service Venture Ltd Bank account.
“The naira also was converted into dollars and I sent the equivalent into an Oceangate account,” he said.
However, during cross-examination by Mr Buba’s counsel, Mr Usman SAN, the witness was asked to confirm to court that Triple A and Tee BDC Ltd had been in operations till date and he responded in affirmative.
“After they suspended our licence, we proposed Triple A and Tee BDC Ltd to CBN last year and we have an approval in principle with CBN,” the witness responded.
“Ciroma Suleiman contacted you in these transactions because he knows you as BDC operator?” the lawyer asked and the PW-2 responded in affirmative.
When Mr Usman asked the witness that it was on the basis of that knowledge that the PW-2 sent his staff to collect the dollars from Mr Ciroma, Mr Iheanacho too objected to the question.
The witness admitted that he did not tell the defendants before the transactions that his BDC license was suspended at any time.
He said his oil company account was used for the transactions because it was the account he had available dollars.
‘The choice of using your oil and gas company account to transfer the dollars to Oceangate was your own decision,” the lawyer asked and the witness responded in affirmative.
Counsel to the 2nd defendant (Mbagwu), M.S. Ibrahim, SAN, asked the witness if he made any profit from the transactions and he responded in affirmative.
“Did you tell the defendants whom you have never seeing or know before that you were going to make inflow payment from your oil and gas company’s account?” Ibrahim asked and the PW-2 said, “No.”
After the cross-examination, the witness was discharged and Ms Nwite adjourned the matter until Dec. 10 and Dec. 11 for continuation of trial.
Earlier on Thursday during the cross-examination of Suleiman Ciroma, the owner of Funnacle BDC Ltd and the PW-I by Mr Usman, SAN, the witness said the reason Mrs Achimugu requested for the transfer of the money was that if she had deposited the money in cash in the bank, she would not be able to transfer same.
Mr Ciroma said Trimizi Usman and Hassan Dantani, upon their representatives collecting the money, in turn, transferred the dollars equivalent “less their charges into a designated account provided by Aisha Achimugu.”
He agreed with Mr Usman’s question that in forex transaction, a transfer can only be made from an account where the money came by way of inflow and not by cash deposit.
When the lawyer asked Mr Ciroma that Mrs Achimugu needed the dollar transfer to purchase her two oil blocks, the PW-1 responded in affirmative.
The witness told the court that he is a member of BDC Traders Association Wuse Zone 4 in Abuja.
He said that was why when he made his statements to EFCC on April 14, April 11 and May 7, the executive members of the association were with him at the time.
Mr Ciroma, who agreed that he was duly cautioned before writing the extra-judicial statements, admitted that there was no part he informed the defendants, particularly Mr Buba, that his BDC licence had expired.
Also while being cross-examined by Mr Ibrahim, who appeared for the 2nd defendant, Mr Ciroma agreed that he had never seen Mr Mbagwu physically before.
He also admitted that he had never produced any text or Whatsapp message between him and Mbagwu before the court before.
gazettengr.com
President Donald Trump is once again referencing his wish to be “heaven-bound”
Speaking to press aboard Air Force One on Sunday, Oct. 12, the president, 79, answered a question about his August statements regarding his attempts to broker a peace deal between Russia and Ukraine — during which he said, “If I can save 7,000 people a week from being killed, I think that’s pretty — I want to try to get to heaven if possible.”
“I’m being a little cute,” Trump told reporters on Sunday about his previous comments, before quipping, “I don’t think there’s anything going to get me in heaven.”
“I really don’t. I think I’m not maybe heaven-bound. I may be in heaven right now as we fly on Air Force One,” he continued. “I’m not sure I’m going to be able to make heaven, but I’ve made life a lot better for a lot of people.”
Trump went on to tell the press that “had the election of 2020 not been rigged,” he could have prevented Russian President Vladimir Putin from invading Ukraine.
“We had an incompetent administration. We had an incompetent president. And because of a crooked election, millions of people are dead,” Trump said, referring to former President Joe Biden. “And by the way, the Israeli thing was much harder to get settled because of the past administration.”
During a phone interview with Fox & Friends on Aug. 19, the president gave a new explanation for taking action to end the war in Ukraine — including positioning himself as a mediator between Putin and Ukrainian President Volodymyr Zelenskyy.
“If I can save 7,000 people a week from being killed, I think that’s pretty — I want to try to get to heaven if possible,” Trump said at the time.
“I’m hearing that I’m not doing well. I am really at the bottom of the totem pole,” he added, to laughter from the Fox News hosts. “But if I can get to heaven, this will be one of the reasons.”
Last month, Trump referenced his goal to “get into heaven” again when his campaign sent out emails asking for donations that read, “I want to try and get to Heaven.”
The recent emails — which reportedly began on Aug. 23 — requested supporters to donate $15 during a “24-HOUR TRUMP FUNDRAISING BLITZ” to the president, the Independent, Snopes and Newsweek reported. The new emails’ subject line includes, “I want to try and get to Heaven,” per the outlets.
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“Last year, I came millimeters from death when that bullet pierced through my skin. My triumphant return to the White House was never supposed to happen!” the email says in reference to the July 2024 assassination attempt against Trump in Butler, Pa.
“But I believe that God saved me for one reason: TO MAKE AMERICA GREAT AGAIN!,” the message says, according to the Independent. “I certainly wasn’t supposed to survive an assassin’s bullet, but by the grace of the almighty God, I did. SO NOW, I have no other choice but to answer the Call to Duty, but I can’t do it alone.”
During a briefing that same day, White House press secretary Karoline Leavitt clarified that she didn’t believe Trump was joking.
“I think the president was serious,” she said. “I think the president wants to get to heaven — as I hope we all do in this room as well.”
Stock photo of airplanes taking off and landing at Laguardia airport in New York
Trump and Putin failed to reach a peace deal or agree to a ceasefire during their recent summit in Alaska on Aug. 15, despite Trump having vaguely threatened “very severe consequences” if Russia didn’t comply.
Days after his meeting with Putin, Trump changed his tune, telling Zelenskyy and other European leaders that he didn’t think a ceasefire between Russia and Ukraine was necessary or even realistic while larger peace negotiations are underway.
The president admitted to the difficulty of negotiating with Putin during his remarks at the Kennedy Center on Aug. 13.
“I’ve had a lot of good conversations with [Putin]. Then I go home and I see that a rocket hit a nursing home or a rocket hit an apartment building and people are laying dead in the streets,” Trump said.
People
Peruvian lawmakers have taken decisive action by voting to remove President Dina Boluarte from office following widespread public dissatisfaction with the country’s escalating crime rates and ongoing political scandals.
In a late-night session held in Lima, Congress reached a majority decision to impeach the president, citing “permanent moral incapacity” as the basis for their decision. Out of the 130 members of Congress, 118 voted in favor of the motion, effectively determining Boluarte’s political fate after she declined to appear before lawmakers to present her defense.
Congress leader José Jerí immediately announced, “The president’s impeachment has been approved,” before taking the oath as interim president. He will oversee the country until new elections scheduled for April 2026.
Boluarte’s presidency, which began in December 2022, has been dogged by protests, corruption allegations, and surging gang violence. Her failure to reduce crime including rising cases of extortion and murder linked to organised groups, sparked widespread frustration among Peruvians.
She had already survived several impeachment attempts before Friday’s vote. This latest one followed weeks of demonstrations against a controversial pension reform law and outrage over reports that she accepted luxury watches and jewellery, a scandal widely known as “Rolexgate.”
Boluarte also drew criticism earlier this year for awarding herself a significant pay rise, even as unemployment and inflation worsened across the country.
As of the time of this press report, former President Boluarte remained silent on her removal, while security forces increased patrols around government buildings amid fears of renewed protests.
Spotlights
‘Stop Dancing Around’: Makinde Tutors Minister Umahi How To Calculates Cost of Lagos-Calabar Coastal Highway
Governor Seyi Makinde of Oyo State has criticised the Minister of Works, Dave Umahi, accusing him of evading questions about the cost of the Lagos-Calabar Coastal Highway project approved by President Bola Tinubu, Politics Nigeria.
Makinde, who spoke on Friday, was reacting to Umahi’s heated exchange with Arise TV presenter Rufai Oseni earlier in the week, during which the minister declined to provide a cost breakdown of the project on a per-kilometre basis.
Oseni had asked Umahi to explain the project’s cost per kilometre, a question the minister dismissed as “elementary,” insisting that the prices vary along different sections of the road and that the journalist lacked the technical knowledge to understand the process.
Umahi said, “Keep quiet and stop saying what you don’t know. I’m a professor in this field… The prices are different. The next kilometre is different from the next kilometre.”
Governor Makinde, however, defended the journalist, saying Umahi’s evasiveness was unnecessary.
“They asked a minister how much the coastal road is, and then you’re dancing around, saying the next kilometre is different from the next. Then what is the average cost?” Makinde said.
He compared the coastal project to road works executed under his administration, providing clear figures.
“When we did the Oyo to Iseyin road, it was about ₦9.99 billion for roughly 35 kilometres, an average of ₦238 million per kilometre.
“For the Iseyin to Ogbomoso road, 76 kilometres cost ₦43 billion, about ₦500 million per kilometre. And that included two bridges,” the governor explained.
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