The Chief Executive Officer of May & Baker Nigeria PLC, Patrick Ajah, has confirmed that the recently signed executive order waiving customs duties and value-added tax (VAT) on pharmaceutical raw materials has now taken effect.

Speaking during the company’s awareness walk to mark the 2025 World Hypertension Day in Lagos, Ajah said the policy has offered some relief, enabling companies like May & Baker to prevent further price hikes in the short term.

While immediate price reductions are not expected, Ajah expressed optimism that the waivers would help stabilise drug prices temporarily and support the continued availability of essential medicines in the local market.

Despite the economic challenges, Ajah reaffirmed May & Baker’s commitment to contributing its quota to building a healthier country.

He said the pharmaceutical firm is striving to keep hypertension drugs affordable for Nigerians despite the rising cost of production driven by economic pressures and foreign exchange instability.

He noted that most antihypertensive drugs were initially developed by multinational pharmaceutical companies, making them unaffordable for many Nigerians.

He said May & Baker stepped in to provide cheaper, locally-produced alternatives to reduce the financial burden on patients.

He pointed out that while the company has made efforts to cushion costs, persistent economic challenges, especially the high cost of foreign exchange, continue to affect drug pricing.

According to him, affordability remains a major barrier to treatment, as many hypertensive patients struggle to keep up with their medication.

Ajah said that although some patients see improvement and stop taking drugs, they often fail to understand that antihypertensive treatment is typically for life.

He emphasised that health professionals no longer recommend drug holidays, describing the practice as counterproductive. Instead, he said, doctors prefer adjusting dosages when patients show consistent progress.

Ajah commended the federal government’s pooled procurement initiative designed to reduce the cost of essential medicines but stressed the need for consistent implementation.

He warned that failure to honour payment commitments, as seen in past programmes, could discourage pharmaceutical companies from participating.