Speaking with newsmen on Sunday in Osogbo, Oyintiloye made the appeal, stating that the extremely high cost of most basic medications was now preventing many Nigerians from having access to them.
According to him, a number of variables, including the departure of GSK, a significant player in the pharmaceutical business, and the high rate of inflation in the depreciation of the Naira, could be to blame for the rising costs of pharmaceuticals.
According to Oyintiloye, these and other causes have caused the cost of medications like amlodipine, augmentin, paracetamol, exforge, Coartem, and other necessary medications to become expensive for the average person.
He claims that between July and September, the value of medications imported into Nigeria increased by 68% to N81.8 billion, as reported by the National Bureau of Statistics (NBS).
The former MP Oyintiloye claimed that people and families already having difficulty making ends meet due to the challenging economic climate were severely impacted financially by the recent spike in prescription prices.
The cost of obtaining these necessary medical supplies increases when the local currency depreciates relative to other currencies, which in turn raises the nation's average price of pharmaceuticals.