The Nigeria Customs Service (NCS) has commenced the implementation of a two-year import duty and VAT exemption on pharmaceutical raw materials, following a directive from the Federal Government. This initiative is part of the administration’s efforts to strengthen the local pharmaceutical industry, enhance access to essential medicines, and promote self-sufficiency in Nigeria’s healthcare sector.
According to a statement signed by Abdullahi Maiwada, Assistant Comptroller of Customs and National Public Relations Officer, the waiver covers Active Pharmaceutical Ingredients (APIs), excipients, and other critical raw materials required for the production of essential medicines, as well as Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials.
Key Highlights of the Policy:
- Tax & Duty Exemptions: Manufacturers of pharmaceutical products will enjoy zero import duty and VAT on essential raw materials for the next two years.
- Cost Reduction & Investment Growth: The policy is expected to lower production costs, boost local manufacturing, and attract more investments into Nigeria’s pharmaceutical sector.
- Strict Eligibility Criteria: Only pharmaceutical manufacturers recognized by the Federal Ministry of Health and Social Welfare and possessing a valid Tax Identification Number (TIN) are eligible for these benefits.
- Transparent Implementation: The NCS will compile and publish quarterly reports detailing all importations under this waiver, ensuring transparency and accountability.
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This policy aligns with President Bola Ahmed Tinubu’s economic strategy, as outlined in the Executive Order signed in June 2024, which introduced zero tariffs, excise duties, and VAT on specified machinery, equipment, and raw materials to boost local production and competitiveness in Nigeria’s healthcare industry.
What This Means for Importers & Manufacturers
For pharmaceutical importers and manufacturers, this waiver presents a major cost-saving opportunity and a chance to scale up production while making essential medicines more affordable for Nigerians. At Valuehandlers, we specialize in seamless importation, customs clearance, and last-mile delivery of pharmaceutical raw materials and medical supplies.
Need to import pharmaceutical raw materials or equipment under this new waiver?
Contact Valuehandlers today for expert freight forwarding and customs clearance support!
Email: Customercare@valuehanldre.com
Tel: 08032241768
Nigeria Customs Implements 2-Year Import Duty & VAT Waiver on Pharmaceutical Raw Materials
The Nigeria Customs Service has begun implementing a two-year import duty and VAT waiver on pharmaceutical raw materials. Learn how this policy benefits local manufacturers, reduces costs, and boosts Nigeria’s healthcare sector.
