Author: Editor

The Nigeria Customs Service (NCS) has begun implementing a two-year exemption on import duty and Value Added Tax (VAT) for key pharmaceutical raw materials. This was disclosed in a statement on Wednesday by the NCS National Public Relations Officer, Abdullahi Maiwada. Maiwada, an Assistant Comptroller of Customs, said the policy follows President Bola Tinubu’s approval of guidelines to support local pharmaceutical manufacturing and reduce healthcare costs. It stated that the tax exemption applies to Active Pharmaceutical Ingredients (APIs), excipients, and other essential raw materials used in producing medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials. According to…

Read More