The Nigeria Customs Service has announced a two-year tax exemption on the importation of raw materials for pharmaceutical products, a move approved by President Bola Tinubu through the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun.
The tax waiver, disclosed on Wednesday by the National Public Relations Officer of the NCS, Assistant Comptroller Abdullahi Maiwada, aims to enhance local drug production, lower the costs of medical supplies, and attract investments into Nigeria’s pharmaceutical sector.
According to Maiwada, the exemption covers import duty and Value Added Tax (VAT) on Active Pharmaceutical Ingredients (APIs), essential raw materials for medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials for two years.
“This measure ensures that the benefits directly support legitimate manufacturers committed to strengthening Nigeria’s healthcare infrastructure,” he stated.
To qualify, pharmaceutical manufacturers must be recognized by the Federal Ministry of Health and Social Welfare and possess a valid Tax Identification Number (TIN).
Maiwada further assured Nigerians that the NCS will maintain transparency by publishing quarterly compliance reports, detailing importers, quantities, and values of items imported under the policy, to ensure proper implementation and prevent misuse.
