The Nigeria Customs Service (NCS) has announced a two-year exemption from import duty and Value Added Tax (VAT) on critical raw materials used in pharmaceutical production.
The exemption, granted under a presidential executive order, was disclosed in a statement by the NCS National Public Relations Officer, Assistant Comptroller Abdullahi Maiwada.
According to Maiwada, the relief covers active pharmaceutical ingredients, excipients, reagents, packaging materials, long-lasting insecticidal nets, and rapid diagnostic kits. The measure is aimed at boosting local drug manufacturing, reducing healthcare costs, and encouraging investment in the sector.
“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,” the statement read.
The NCS also pledged to ensure transparency by compiling quarterly reports detailing importers, quantities, and values of items imported under the policy.
The service reaffirmed its commitment to supporting government policies while facilitating trade, enhancing border security, and driving national development. It called for cooperation from stakeholders, including importers, manufacturers, and government agencies, to strengthen Nigeria’s healthcare sector.
