Nigeria’s Tinubu Signs Executive Order to Boost Local Healthcare Manufacturing, Eliminates Tariffs and VAT

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President Bola Tinubu has issued an Executive Order aimed at bolstering Nigeria’s healthcare sector by eliminating tariffs and VAT on inputs for healthcare production. The order also includes incentives to promote local manufacturing and mandates inter-ministerial collaboration to reduce costs, enhance competitiveness, and foster job creation within the country.

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Mohammed Pate, Minister of Health and Coordinating Minister for Social Welfare, previewed the Executive Order during the last Federal Executive Council (FEC) briefing.

Under the new order, zero tariffs, excise duties, and VAT will apply to specified machinery, equipment, and raw materials crucial for producing healthcare products such as pharmaceuticals, diagnostics, medical devices (like needles and syringes), biologicals, and medical textiles. It also covers essentials like Active Pharmaceutical Ingredients (API), excipients, Long-lasting Insecticidal Nets, Rapid Diagnostic Kits, and other critical raw materials.

The Executive Order further mandates the establishment of market shaping mechanisms, including framework contracts and volume guarantees, to stimulate local manufacturing. It requires collaboration between the Ministries of Health, Finance, and Industry, Trade and Investment to develop a Harmonized Implementation Framework, aimed at expediting regulatory approvals and streamlining processes. Implementation will be overseen by agencies such as the Nigeria Customs Service and FIRS, with provisions for special waivers and exemptions effective for two years.

This initiative is expected to pivot towards market-based incentives, encouraging medical industrialization, reducing import dependency over time, and creating economic value while fostering job opportunities across the healthcare value chain.

Adeniyi Ogunfowoke, The Naija247news
Adeniyi Ogunfowoke, The Naija247newshttps://naija247news.com/
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