The Federal Government has finalized the implementation framework for an executive order eliminating VAT and import duties on pharmaceutical materials and medical devices.

The minister of state for health and social welfare, Tunji Alausa, made this known on Wednesday, October 9, 2024, disclosing that the framework has been cleared for gazetting.

According to him, the step ensures that the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS) can move on to implement zero VAT and import duties on pharmaceutical products and medical devices.

He added that this step opens the door for local pharmaceutical and medical device manufacturers to begin benefiting from the measures proposed by the president in the executive order. This is expected to reduce the cost of essential pharmaceutical products and medical consumables in Nigeria, easing the financial pain of citizens.

The minister disclosed that gazetting the implementation framework represents the third pillar of the Ministry of Health’s four-point agenda, which focuses on opening up the healthcare value chain.

According to Alausa, the ministry hopes to promote a healthier, more self-reliant country by creating an environment that supports local manufacturers.

Stakeholders in the health sector have expected the move since Tinubu introduced a policy this year to boost local production of essential medical supplies.