President Bola Ahmed Tinubu has issued an Executive Order aimed at boosting domestic manufacturing of essential healthcare items by eliminating tariffs, excise charges, and VAT on specialist machinery, equipment, and pharmaceutical raw materials.
This initiative, part of the Initiative for Unlocking the Healthcare Value Chain approved in October 2023, targets medicines, diagnostics, medical devices (like needles and syringes), biologicals, and medical textiles.
The order, spearheaded by Nigeria’s Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, seeks to reduce production costs, enhance competitiveness for local manufacturers, and foster market-based incentives to stimulate medical industrialization and reduce import dependence.
The Minister of Justice and Attorney General of the Federation, Prince Lateef Olasunkanmi Fagbemi SAN, is tasked with advancing the implementation of this order.
Key agencies including Nigeria Customs Service, NAFDAC, SON Nigeria, and FIRS Nigeria are involved in ensuring swift implementation with waivers and exemptions effective for two years.
This strategic move is expected to lower healthcare costs, generate employment opportunities, and retain economic value within Nigeria, aligning with broader efforts to revitalize the national health sector.
