Customs Exempts Raw Materials for Healthcare Products from Duties

Abuja – The Nigeria Customs Service (NCS) announced an exemption for raw materials used to produce healthcare products. These materials will not face import duties or Value Added Tax (VAT). This action follows an order from President Bola Tinubu. The order aims to lower the prices of healthcare products. Customs Spokesman Abdullahi Maiwada confirmed the government approved guidelines for this.

Exemption Details

The exemption will last for two years. It applies to important raw materials. These include Active Pharmaceutical Ingredients (APIs), excipients, and packaging materials. These items are needed to make essential medicines. They are also used for insecticidal nets, diagnostic kits, and reagents. Only manufacturers approved by the Federal Ministry of Health and Social Welfare are eligible. They must also have a valid Tax Identification Number (TIN).

Monitoring and Goals

The NCS will watch the imports closely. It will create reports every three months. These reports will list the importers, quantities, and values of imported items. This ensures the policy works as planned. Exempting these materials aims to improve Nigeria’s healthcare system. It also seeks to make essential medicines more affordable.