The federal government has approved VAT (VAT) and import taxes for key raw materials essential for the production of pharmaceutical products. The announcement was published by a national public relations officer at the Nigerian Customs Services Agency (NCS), the chief calculator of Customs, Wednesday, March 26.
Maiwada explained that the exemption will apply for two years and will cover essential raw materials such as active pharmaceutical ingredients (API), excipients and other materials needed to make essential drugs, a durable insecticidal network (LLINS), a rapid diagnostic kit, kit, kit, reagent, reagents, reagents and packaging materials.
To ensure full utilization of this fiscal incentive, exemptions are limited to pharmaceutical manufacturers approved by the Federal Department of Health and Social Welfare, as long as they have a valid Tax Identification Number (TIN). The measure is designed to support legal manufacturers and strengthen Nigeria’s medical infrastructure.
NC also highlights its commitment to transparency and effective monitoring. The agency will compile the quarterly report details all imports under the policy, including data on importers, quantity and value of import projects, to ensure that the policy goals are met.
The NCS reaffirmed its dedication to support government policies while promoting trade, enhancing border security and promoting national development. The statement notes that the successful implementation of the policy will require the cooperation of all stakeholders, including importers, manufacturers and relevant government agencies, to achieve a strong healthcare sector in Nigeria.
