The National Agency for Food and Drug Administration and Control has applauded President Bola Tinubu for signing an executive order to eliminate tariffs, excise duties, and value-added tax on imported pharmaceutical inputs.
Adeyeye said the executive order will ensure “drug and health security” in the country, adding that it would “boost local pharmaceutical production”.According to a statement by Ali Pate, coordinating minister of health and social welfare, the order is aimed at revitalising the Nigerian health sector and increase production of healthcare products.
Adeyeye said the initiative, as a part of the Nigeria Health Sector Renewal Investment Initiative “addresses longstanding challenges and aims to improve health outcomes for Nigerians.”She said the agency has been promoting local pharmaceutical production for six years, and with the new administration, local manufacturers can now grow and compete more effectively.
“The waivers and exemptions are valid for two years. The order is vital to the success of the Nigeria Health Sector Renewal Investment Initiative and will encourage local manufacturing, create jobs, stimulate economic growth and reduce dependence on imports,” Adeyeye said.