The Federal Competition and Consumer Protection Commission (FCCPC) has opened an inquiry into the rising cost of drugs in the pharmaceutical and healthcare sectors.
While constituting the inquiry in Abuja, the Executive Vice Chairman, FCCPC, Tunji Bello, represented by the Director of Surveillance and Investigation, Boladale Adeyinka, said the move became imperative in the face of the rising costs that is threatening the acquisition of drugs and pharmaceutical equipment.
Bello said the Federal Competition and Consumer Protection Act, 2018, empowers the FCCPC to promote fair business practices and safeguard consumer interests.
He added that as part of the commission’s mandate, it is conducting an inquiry into the alarming rise in cost and variation of drug prices in Nigeria over the past year.
