Diabetics seek FG’s intervention on high cost of medication

People living with diabetes are grappling with the exorbitant cost of insulin and other medications to manage the disease.

They are now advocating for urgent steps to be taken by the president Bola Tinubu led administration to find ways of not only reducing the high cost of medication but also of to lift the suspension on the deductions of the sugar sweetened beverage taxes.

In 2019, a report done by the national library of medicine revealed that about 463 million adults were living with diabetes, and this is projected to rise to 700 million by 2045 with the highest proportion of this increase being in low- and middle-income countries, including Nigeria.

Managing diabetes requires a substantial amount of funds.

Recently this cost of insulin and medications for other non-communicable diseases has skyrocketed making it unaffordable for many patients.

Many people living with this disease say they spend over 100,000 on insulin, syringes and vital equipment such as glucometers to monitor blood sugar levels monthly.

Since 2022, the price of 10 milliliters of insulin has soared from N3,500 to approximately N11,000 in 2024. Additionally, insulin pens now cost around N65,000 each.

The coalition is now seeking for an intervention by President Bola Tinubu to urgently find ways of crashing down the prices of medication and increase more tax deductions on sugar sweetened beverages to help in the treatment and care of non-communicable diseases

The World Health Organization recommends a minimum of 20% of tax from SSBs but Currently, the tax stands at 1.67% of the retail price.