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The Nigerian government said it has finalised the processes to implement an executive order eliminating Value Added Tax (VAT) and excise duties on pharmaceutical products and medical devices.

This was announced Wednesday in a statement posted on X and signed by the Head of Information and Public Relations at the Federal Ministry of Health and Social Welfare, Alaba Balogun.

This development comes four months after President Bola Tinubu signed the executive order aiming to boost local production of healthcare products and reduce costs.

The Coordinating Minister of Health and Social Welfare, Muhammad Pate, who made the announcement on his X handle explained that the new order has introduced zero tariffs, excise duties and VAT on specified machinery, equipment and raw materials.

According to the minister, the order is pivotal to the success of the initiative for unlocking the healthcare value chain which was approved in October 2023 by the President.

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