In a groundbreaking move, President Bola Ahmed Tinubu GCFR has signed an Executive Order aimed at increasing local production of pharmaceuticals, diagnostics, and medical devices in Nigeria. This historic decision has been met with immense appreciation from the Healthcare Federation of Nigeria (HFN) and other prominent stakeholders in the private healthcare sector.
For years, the HFN has been advocating for the removal of tariffs, excise duties, and VAT from life-saving equipment and essential raw materials for drug manufacturing. With the signing of this executive order, the healthcare sector in Nigeria is poised to see a reduction in production costs and an enhancement in the competitiveness of local manufacturers.
The order includes critical items such as active pharmaceutical ingredients, excipients, and essential raw materials required for manufacturing crucial products, including drugs, long-lasting insecticidal bed nets, and rapid diagnostic kits.
This strategic move is not just another government program, but a sincere commitment to revitalizing the health sector in Nigeria through the Nigeria Health Sector Renewal Investment Initiative (NHSRII).
The HFN is fully committed to working towards establishing a landmark in intensive care management with a focus on holistic local content. The organization assures President Tinubu and the Honourable Coordinating Minister of Health of its unwavering commitment to the activation and actualization of this Executive Order, with the ultimate goal of creating a healthier and more self-sufficient Nigeria.
President Tinubu’s bold decision to sign this Executive Order lays the foundation for a heritage that we will consolidate and preserve. It is a significant step towards a more sustainable and competitive healthcare sector in Nigeria.