Healthcare Federation of Nigeria
The Healthcare Federation of Nigeria (HFN) has called on the Nigeria Customs Service (NCS) to ensure the seamless implementation of the recently introduced duty and VAT waivers on pharmaceutical raw materials. This move, which comes as part of the Federal Government’s two-year waiver policy, is seen as a game-changer for Nigeria’s healthcare sector, significantly reducing the cost of essential medical products and strengthening local manufacturing.
In a statement issued on Wednesday, HFN emphasized the importance of the NCS issuing clear circulars to all Zonal Offices and Area Commands across airports, seaports, and land borders to ensure that pharmaceutical importers and manufacturers can fully benefit from these waivers without bureaucratic delays.
A Major Leap for Nigeria’s Healthcare System
The HFN applauded the Federal Government for its forward-thinking decision to waive import duties and VAT on critical pharmaceutical raw materials such as Active Pharmaceutical Ingredients (APIs), excipients, diagnostic kits, and medical packaging materials. This policy, according to HFN, promises to reduce medicine costs, improve healthcare accessibility, and enhance the country’s competitiveness in the global healthcare market.
HFN President, Njide Ndili, stated, “This monumental policy will reduce the cost of healthcare products and services, making essential medicines more affordable and accessible to millions of Nigerians. We believe it will also create thousands of jobs, stimulate local economies, and improve healthcare delivery across the country.”
Collaboration Driving Change
Ndili credited the success of the policy to the collaborative efforts between key government officials and industry stakeholders. Notable contributors include Mr. Wale Edun, Minister of Finance; Dr. Doris Nkiruka Uzoka-Anite, Minister of State for Finance; and Prof. Muhammad Ali Pate, Coordinating Minister of Health and Social Welfare. The Nigeria Customs Service, led by Comptroller-General Bashir Adewale Adeniyi, also played a crucial role in the policy’s implementation.
“This waiver is not just a fiscal reform; it is a catalyst for innovation and growth within Nigeria’s healthcare sector. It will foster self-sufficiency, reduce reliance on imports, and improve Nigeria’s competitiveness within the African Continental Free Trade Area (AfCFTA),” Ndili added.
Unlocking Growth and Global Opportunities
The policy is expected to have far-reaching impacts on Nigeria’s economy and healthcare landscape. By promoting local manufacturing, the waiver will create opportunities for Nigeria to become a key player in the African and global healthcare markets. It will also stimulate the creation of dedicated Healthcare Industry Free Zones, following successful models in places like Turkey and Dubai.
Ndili also pointed out that the policy would simplify the re-exportation of obsolete healthcare equipment in exchange for more advanced technologies, opening up new trade and investment opportunities for Nigerian businesses.
“With this policy, we are not just lowering costs but paving the way for long-term industrial growth and innovation,” Ndili concluded, reinforcing the transformative potential of the duty and VAT waivers for Nigeria’s healthcare sector.
This comprehensive approach promises to reshape Nigeria’s healthcare industry, enhancing local production, improving access to medical products, and creating a more robust healthcare ecosystem nationwide.
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