The Nigeria Customs Service (NCS) has commenced the implementation of a Presidential Executive Order aimed at enhancing local manufacturing of healthcare products, reducing the cost of medical equipment and consumables, and stimulating local investment in the pharmaceutical sector.
According to a statement issued by the NCS, President Bola Ahmed Tinubu, through the Honourable Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, has approved comprehensive guidelines to facilitate these objectives.
As part of the initiative, critical raw materials essential for pharmaceutical production will be exempted from import duty and Value Added Tax (VAT) for a period of two years. This exemption covers Active Pharmaceutical Ingredients (APIs), excipients, and other essential materials used in manufacturing vital medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials.
The NCS emphasized that only manufacturers recognized by the Federal Ministry of Health and Social Welfare, with valid Tax Identification Numbers (TIN), will be eligible to benefit from this policy. This measure is intended to ensure that the incentives directly support legitimate pharmaceutical manufacturers and strengthen Nigeria’s healthcare sector.
To promote transparency and accountability, the Customs Service will compile and release quarterly reports on all importations covered under this policy. These reports will detail importers, quantities, and values of the imported items to ensure compliance with the directive’s objectives.
The NCS reaffirmed its commitment to supporting government policies while fulfilling its mandate of trade facilitation, border security, and national development. The agency called for collaboration among stakeholders, including manufacturers, importers, and relevant government bodies, to achieve a more robust healthcare sector capable of meeting the needs of Nigerians.
The initiative is expected to significantly enhance local pharmaceutical production, reduce dependency on imported medical products, and improve access to affordable healthcare solutions across the country.
