• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, June 23, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria Customs starts waiver on import duty on pharmaceutical raw materials

Pharmaceutical

The Matters Press by The Matters Press
March 26, 2025
Reading Time: 2 mins read
0
Nigeria Customs starts  waiver on import duty on pharmaceutical raw materials

The Nigeria Customs Service (NCS) has waived import duty and Value Added Tax (VAT) on critical raw materials essential for pharmaceutical production for a period of two years.

RELATED POSTS

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

Its Spokesperson, Abdullahi Maiwada, made this known in a statement on Wednesday in Abuja.

Maiwada explained that the waiver aligned with the Presidential directives to enhance local healthcare product manufacturing, reduce costs of medical equipment and consumables, and stimulate local investments.

He said that the waiver was part of the comprehensive guidelines approved by Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, to actualise the objectives of the presidential directives.

According to him, this exemption covers Active Pharmaceutical Ingredients (APIs), excipients, and other vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials.

“To ensure that these fiscal incentives are fully utilised, eligibility is limited to manufacturers of pharmaceutical products recognised by the Federal Ministry of Health and Social Welfare, provided they possess a valid Tax Identification Number (TIN).

“This measure will ensure that the benefits directly support legitimate manufacturers committed to strengthening Nigeria’s healthcare infrastructure.”

The NCS spokesman also said that the Service would compile quarterly reports on all importations under this policy.

He said these would include data on importers, quantities, and values of the imported items, adding that this was with a view to ensuring that the implementation aligned with its intended objectives.

According to him, the reports reflect its commitment to transparency and the effective monitoring of the policy’s implementation to ensure its success.

“The NCS remains committed to supporting government policies, while fulfilling its mandate to facilitate trade, enhance border security, and drive national development.

“Successful implementation of this policy requires collaboration from all stakeholders, including importers, manufacturers, and relevant government agencies.

“Through our collective efforts, we can achieve the shared goal of a robust healthcare sector that meets the needs of all Nigerians.”

Tags: Pharmaceutical
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Fubara shames antagonists of emergency rule, vindicates Tinubu – TDF
Energy

Fubara shames antagonists of emergency rule, vindicates Tinubu – TDF

June 16, 2025
Next Post
Nigerians to own brand new vehicles, goods through new credit scheme initiative

TDF, TMSG support emergency rule in Rivers rate Tinubu correct legally

Wike sacks media executives

NBA in the eyes of Wike

Recommended Stories

Islamic bank moves to establish 200 milk collection centres in Kano

Tanzania’s dairy improves as milk yield hits 3.4 billion litres

March 2, 2023
Nigeria’s local government autonomy will foster growth

16 states lose case against EFCC, ICPC, NFIU

November 15, 2024
Stable petrol supply excites Buhari

NNPC spends N83bn on moribund refineries

December 15, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism
  • Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us