President Tinubu Signs Executive Order to Boost Local Production in Healthcare Sector.

President Bola Tinubu signed an executive order suspending tariffs, excise duties, and VAT on imported pharmaceutical machinery and inputs
The initiative aims to rejuvenate Nigeria’s health sector and increase local production of healthcare products
The order introduces zero tariffs, excise duties, and VAT on specified machinery, equipment, and raw materials
It includes items like Active Pharmaceutical Ingredients, essential raw materials, and medical devices
The order mandates collaboration among various ministries to develop an implementation framework
Agencies like NCS, NAFDAC, SON, and FIRS will ensure swift implementation with waivers and exemptions for two years
The order aims to encourage medical industrialization, reduce costs of medical products, create economic value, and enable job creation in the healthcare value chain.

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.