Our reporter In what could be described as moves to revitalise the ailing Nigerian health sector and increase production of healthcare products, President Bola Tinubu has signed an executive order to introduce zero tariffs, excise duties and value-added tax on imported pharmaceutical products and inputs. This was disclosed by the Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, in a statement on Friday. He noted that the Executive Order also aims to increase local production of healthcare products.
The minister explained that agencies like the Nigeria Customs Service, National Agency for Food and Drug Administration and Control, Standard Organisation of Nigeria, and Federal Inland Revenue Service will ensure swift implementation, with special waivers and exemptions effective for two years. He stated, “In a transformative move to revitalize the Nigerian health sector, His Excellency President Bola Ahmed Tinubu, GCFR @officialABAT, has signed an Executive Order aiming to increase local production of healthcare products (pharmaceuticals, diagnostics, devices such as needles and syringes, biologicals, medical textile, etc.).
“The Minister of Justice and Attorney General of the Federation @FedMinOfJustice, Prince Lateef Olasunkanmi Fagbemi SAN, @LOFagbemi, is to now take the next steps towards codifying the new Order.” Pate said the order is crucial to the success of the initiative for unlocking the health care value chain (PVAC_NG) approved in October .