In a groundbreaking move, President Bola Tinubu has signed an executive order to eliminate taxes on imported pharmaceutical inputs.
This significant policy change aims to bolster the pharmaceutical sector, reduce the cost of medications, and improve healthcare accessibility across Nigeria.
The executive order, announced today, underscores the government’s commitment to enhancing the healthcare system and supporting local pharmaceutical manufacturers.
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By removing taxes on essential inputs such as raw materials and active pharmaceutical ingredients, the administration hopes to encourage domestic production and ensure the availability of affordable medicines for all Nigerians.
This development is expected to have a far-reaching impact on the healthcare sector, improving the quality and affordability of medical supplies and fostering a more robust pharmaceutical industry in the country.
