Going forward, critical raw materials that are key to manufacturing pharmaceutical products will be exempted from import duty and Value Added Tax (VAT) for a period of two years, the Nigeria Customs Service declared on Thursday, in a series exemptions said to be endorsed as part of presidential executive order.
The exemption customs said in a statement authorized by Comptroller General Mr. Wale Adeniyi signed by Assistant Comptroller of Customs National Public Relations Officer, Abdullahi Maiwada covers Active Pharmaceutical Ingredients (APIs), excipients, and other vital raw materials required for manufacturing essential medicines, Long-Lasting Insecticidal Nets (LLINs), Rapid Diagnostic Kits, reagents, and packaging materials.
