By Gwurld4026 
Import Duty and VAT Exemption for Pharma Raw Materials
The Nigeria Customs Service (NCS) has commenced the implementation of a Presidential Executive Order granting a two-year exemption from import duty and Value Added Tax (VAT) on essential raw materials for pharmaceutical production. This initiative aims to bolster local manufacturing of healthcare products, reduce medical costs, and encourage domestic investment in the sector.
Scope of the Exemption: The tax waiver encompasses critical components such as:
- Active Pharmaceutical Ingredients (APIs)
- Excipients
- Reagents
- Packaging materials
- Long-Lasting Insecticidal Nets (LLINs)
- Rapid Diagnostic Kits
Eligibility Criteria: To benefit from this policy, manufacturers must:
- Be recognized by the Federal Ministry of Health and Social Welfare
- Possess a valid Tax Identification Number (TIN)
This measure ensures that the incentives directly support legitimate manufacturers committed to enhancing Nigeria’s healthcare infrastructure.
Implementation and Oversight: The NCS will compile quarterly reports detailing all importations under this policy, including data on importers, quantities, and values of imported items, to ensure transparency and effective monitoring.
Stakeholders, including importers, manufacturers, and relevant government agencies, are encouraged to collaborate to successfully implement this policy, which is expected to lead to more affordable medicines and a strengthened healthcare system in Nigeria