The Nigeria Customs Service (NCS) has announced the suspension of import duties and Value Added Tax (VAT) on pharmaceutical products for a period of two years.
The cancellation includes Active Pharmaceutical Ingredients (APIs), excipients, and other vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials.
This was contained in a statement issued by the Public Relations Officer of the NCS, Abdullahi Maiwada on Wednesday.
“Drawing from Presidential directives aimed at enhancing local manufacturing of healthcare products, reducing the costs of medical equipment and consumables, as well as stimulating local investments, the Nigeria Customs Service (NCS) is pleased 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 objectives.
“Consequently, critical raw materials essential for the production of pharmaceutical products 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 vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials,” the statement partly reads.
Maiwada explained that to ensure that these fiscal incentives are fully utilised, eligibility is limited to manufacturers of pharmaceutical products recognised by the Federal Ministry of Health and Social Welfare, provided they possess a valid Tax Identification Number (TIN).
This, he said, ensures that the benefits directly support legitimate manufacturers committed to strengthening Nigeria’s healthcare infrastructure.
“In commitment to transparency and effective monitoring, the NCS will compile quarterly reports detailing all importations under this policy, including data on importers, quantities, and values of the imported items, ensuring the policy’s implementation aligns with its intended objectives,” the spokesperson noted.
The Service reiterated its commitment to supporting government policies while fulfilling its mandate to facilitate trade, enhance border security, and drive national development.
It asserted that the successful implementation of this policy requires collaboration from all stakeholders, including importers, manufacturers, and relevant government agencies.
“Through our collective efforts, we can achieve the shared goal of a robust healthcare sector that meets the needs of all Nigerians,” the statement added.
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