The Nigeria Customs Service (NCS) is happy to announce that His Excellency, President Bola Ahmed Tinubu GCFR, through the Honourable Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, has approved the comprehensive guidelines to actualise these goals.
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These directives focused on increasing local manufacturing of healthcare products, lowering the costs of medical equipment and consumables, and encouraging local investments. Therefore, during a two-year period, vital raw materials used to produce pharmaceutical products will not be subject to import taxes or Value Added Tax (VAT).
This exemption includes reagents, packaging materials, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, Active Pharmaceutical Ingredients (APIs), excipients, and other important raw ingredients needed to manufacture essential medications.
Eligibility is restricted to pharmaceutical product producers approved by the Federal Ministry of Health and Social Welfare, as long as they have a valid Tax Identification Number (TIN), in order to guarantee that these financial incentives are completely utilised. This step guarantees that the advantages go directly to respectable producers who are dedicated to bolstering Nigeria’s healthcare system.
To ensure that the policy’s execution is in line with its intended goals, the NCS will create quarterly reports that include information on importers, quantities, and values of the imported commodities, as part of its commitment to transparency and efficient monitoring.
In carrying out its mission to promote trade, strengthen border security, and advance national development, the Nigeria Customs Service is steadfast in its commitment to upholding governmental policies. All parties involved, including importers, manufacturers, and pertinent government organisations, must work together to ensure the successful implementation of this legislation.
We can accomplish our common objective of having a strong healthcare system that serves the needs of every Nigerian by working together. ABDULLAHI MAIWADA National Public Relations Officer for the Comptroller-General of Customs, Assistant Comptroller of Customs, March 26, 2025
