Customs exempts healthcare products raw materials from duties, VAT

The Nigeria Customs Service (NCS) has announced the exemption of raw materials for healthcare product production from duties and VAT. 

This initiative follows President Bola Tinubu’s Executive Order aimed at reducing the cost of healthcare products. The exemption will apply for two years and covers critical materials like Active Pharmaceutical Ingredients (APIs), excipients, and other essentials for medicines, diagnostic kits, insecticidal nets, and packaging. 

Only manufacturers recognized by the Federal Ministry of Health, with a valid Tax Identification Number (TIN), will be eligible. The NCS will also monitor the policy's implementation and report quarterly on its progress.