- Nigeria Customs Service announces a two-year exemption from import duty and VAT on raw materials for pharmaceutical production
- The exemption is part of a presidential directive to boost local healthcare product manufacturing and reduce costs
- Exempted items include Active Pharmaceutical Ingredients, excipients, and other essential raw materials
- Eligibility is limited to manufacturers recognized by the Federal Ministry of Health with a valid Tax Identification Number
- The Nigeria Customs Service will provide quarterly reports on importations under this policy
- Collaboration from stakeholders is essential for successful implementation and strengthening Nigeria’s healthcare sector
Source: x.com
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.
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