Oritsegbubemi Omatseyin

Lagos —

The Nigeria Customs Service (NCS) has stated that President Bola Ahmed Tinubu, via the Minister of Finance and Coordinator of the Economic Affairs Ministry, Adebayo Olawale Edun, has sanctioned detailed regulations designed to achieve goals focused on boosting domestic production of health care items, lowering the expenses associated with medical devices and supplies, and encouraging local investment.
Essential raw materials crucial for producing pharmaceutical goods will be free from both import duties and Value Added Tax, VAT, over a span of two years. This waiver includes Active Pharmaceutical Ingredients, APIs, excipients, along with key raw materials needed for making critical medications, Long-Lasting Insecticidal Nets, LLINs, rapid diagnostic tests, reagents, and packing supplies.
In order to guarantee full utilization of these financial incentives, only those who manufacture pharmaceuticals recognized by the Federal Ministry of Health and Social Welfare are eligible—provided they have a valid Tax Identification Number (TIN). This approach ensures that the advantages go directly to authorized producers dedicated to enhancing Nigeria’s health care system.
To uphold transparency and efficient oversight, the NCS will produce quarterly reports that outline every import conducted under this policy. These documents will include information about the importers, the amounts brought in, and the value of the goods, guaranteeing that the policy’s execution matches its predetermined goals.
The Nigerian Customs Service continues to support governmental policies as it carries out its mission to ease trade, bolster border security, and promote national progress.
The successful execution of this policy hinges on cooperation among all parties involved, such as importers, manufacturers, and pertinent governmental bodies. By working together, we can attain the objective of establishing a strong healthcare system that serves every Nigerian effectively.