Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » NCS implements Presidential Executive Order to boost local production of healthcare products

    NCS implements Presidential Executive Order to boost local production of healthcare products

    April 2, 2025
    Share
    Facebook Twitter LinkedIn WhatsApp
    Oritsegbubemi Omatseyin 
    Lagos — The Nigeria Customs Service, NCS, has announced that President Bola Ahmed Tinubu, through the Minister of Finance and Coordinating Minister of the Economy, Adebayo Olawale Edun, has approved comprehensive guidelines to actualise objectives aimed at enhancing local manufacturing of healthcare products, reducing the costs of medical equipment and consumables, as well as stimulating local investments.
    Critical raw materials essential for the production of pharmaceutical products will be exempted from import duty and Value Added Tax, VAT, for a period of two years. This exemption covers Active Pharmaceutical Ingredients, APIs, excipients, and other vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets, LLINs, Rapid Diagnostic Kits, reagents, and packaging materials.
    To ensure that these fiscal incentives are fully utilised, eligibility is limited to manufacturers of pharmaceutical products recognised by the Federal Ministry of Health and Social Welfare, provided they possess a valid Tax Identification Number, TIN. This measure ensures that the benefits directly support legitimate manufacturers committed to strengthening Nigeria’s healthcare infrastructure.
    In commitment to transparency and effective monitoring, the NCS will compile quarterly reports detailing all importations under this policy, including data on importers, quantities, and values of the imported items, ensuring the policy’s implementation aligns with its intended objectives.
    The Nigeria Customs Service remains committed to supporting government policies while fulfilling its mandate to facilitate trade, enhance border security, and drive national development.
    Successful implementation of this policy requires collaboration from all stakeholders, including importers, manufacturers, and relevant government agencies. Through collective efforts, the goal of a robust healthcare sector that meets the needs of all Nigerians can be achieved.

    Related News

    Oyetola, NIMASA pledge zero tolerance for harassment at sea 

    BPSR applauds NIMASA for championing public service reforms

    Stakeholders raise alarm over dangers of marine debris

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    ‘Cross-border financial crimes draining billions from West, Central Africa’ 

    June 29, 2025

    Tariff crisis stalls Nigeria’s gas-to-power expansion

    June 29, 2025

    Oyetola, NIMASA pledge zero tolerance for harassment at sea 

    June 29, 2025

    NCDMB commends Heritage Energy on NOGICD Act implementation, reiterates commitment to HCD

    June 29, 2025

    BPSR applauds NIMASA for championing public service reforms

    June 29, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.