Customs Exempts Healthcare Products Raw Materials From Duties, Vat

The Nigeria CustomsService NCS yesterday announced the exemption of raw materials for the production of healthcare products in the country from both duties and Value Added Tax VAT.

Customs Spokesman, Abdullahi Maiwada AC, in a statement, said that the move was in line with President Bola Tinubus Executive Order, aimed at driving down prices of such projects.

He said: The Nigeria Customs Service NCS is pleased to announce that His Excellency, President Bola Ahmed Tinubu GCFR, through the Honourable Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, has approved the comprehensive guidelines to actualise these objectives.

Consequently, critical raw materials essential for the production of pharmaceutical products will be exempted from import duty and Value Added Tax VAT for a period of two years.