The Nigeria Customs Service (NCS) has approved a two-year waiver on import duty and Value Added Tax (VAT) for key raw materials used in pharmaceutical manufacturing.
The initiative, authorized through a presidential executive order, was announced on Wednesday by NCS spokesperson, Assistant Comptroller Abdullahi Maiwada.
The exemption applies to essential pharmaceutical inputs such as active ingredients, excipients, reagents, rapid diagnostic kits, long-lasting insecticidal nets, and packaging materials.
The policy is designed to enhance local drug production, reduce the cost of medical supplies, and attract investment into the healthcare sector.
As part of measures to prevent misuse, the waiver is restricted to pharmaceutical manufacturers accredited by the Federal Ministry of Health and Social Welfare and holding valid Tax Identification Numbers.
To ensure transparency, the NCS will track and publish quarterly reports on imports benefiting from the exemption, detailing the importers, quantities, and values of items brought into the country.
Reaffirming its commitment to national development, the NCS stressed that effective implementation of the policy requires collaboration between manufacturers, importers, and government agencies.
The initiative is expected to strengthen Nigeria’s healthcare system by making essential medicines more affordable and accessible.