The Nigeria Customs Service (NCS) has commenced the implementation of a two-year zero-tax policy on imported pharmaceutical raw materials, following President Bola Ahmed Tinubu’s approval.
This initiative, signed into effect in June 2024, exempts essential medicine production inputs, such as active pharmaceutical ingredients (APIs), excipients, diagnostic kits, and packaging materials, from import duty and VAT.
The policy aims to lower production costs, boost local pharmaceutical manufacturing, and attract investments in Nigeria’s healthcare sector. To ensure transparency, NCS will publish quarterly reports on imports covered under this scheme.
According to Kamorudeen Yusuf, Personal Assistant on Special Duties to the President, this initiative reaffirms Tinubu’s commitment to strengthening Nigeria’s healthcare system, fostering economic growth, and ensuring affordable medicines for all.
President Bola Tinubu has signed an executive order to introduce zero tariffs, excise duties and value added tax (VAT) on imported pharmaceutical inputs. In a statement on Friday, Muhammad Ali Pate, coordinating minister of health and social welfare, said the order is aimed at revitalising the Nigerian health sector and…
The Nigeria Customs Service (NCS) yesterday announced the exemption of raw materials for the production of healthcare products in the country from both duties and Value Added Tax (VAT). Customs Spokesman, Abdullahi Maiwada (AC), in a statement, said that the move was in line with President Bola Tinubu’s Executive Order, aimed…
The National Agency for Food and Drug Administration and Control said more than 50 per cent of certificates of pharmaceutical products that are imported into Nigeria are fake. The Director-General of NAFDAC, Prof Mojisola Adeyeye, disclosed this at the stakeholders’ engagement meeting with regulators, policymakers, and law enforcement agencies on Monday in Abuja.…
