PSN commends Tinubu’s executive order on healthcare equipment
By Doris Obinna
Pharmaceutical Society of Nigeria (PSN) has commended President Bola Tinubu and Coordinating Minister of Health & Social Welfare, Prof. Ali Pate, on the signing of an Executive Order (EO) to increase local production of pharmaceuticals, diagnostics and medical devices.
PSN said it convened the appreciation of its members and other stakeholders in the pharmaceutical sector as the order introduces zero tariffs, excise duties and VAT on specified machineries, equipment and raw materials aimed at reducing production cost and enhancing local manufacturers competitiveness.
PSN, in a statement signed by its president, Prof. Cyril Usifoh, said this demonstrates that the Nigeria Health Sector Renewal Investment Initiative (NHSRII) is not just another government initiative but a genuine commitment to turn around the ailing health sector.
“The potential for success in this order is boosted because specified items include active pharmaceutical ingredients, excipients, essential raw materials required for manufacturing of crucial heats products, including drugs, long-lasting insecticidal bed nets, rapid diagnostic kits and others.
“We are excited about the prospects of this Order and therefore encourage the Coordinating Minister of Health to embark on other complementary measures to bring down the skyrocketing prices of drugs in Nigeria.
“One of such measures remains a tinkering with tariffs of varying dimensions and other procedures and processes being contemplated by the prime regulators in the pharmaceutical value chain.”
Usifoh continued: “Furtherance to the above, the Federal Ministry of Health (FMoH) as part of its broad-spectrum oversight responsibilities must ensure comprehensive reforms in regulatory agencies which have lawful approbation that borders on drug use and control.
“The FMoH should additionally evaluate the reality of things since it may take a lead-time of 15 to 18 months to set up new manufacturing plants if all the capital is available.”
PSN advocates for the need of improved installed capacity and capacity utilization in the pharma industry to attain the 70 per cent target of local manufacturing of essential drugs in our country. “Consumers of health naturally imagine that with an executive order, drug prices which have soared will come down automatically by a significant quantum.
“The FMoH must assist the regulatory agencies in the pharma industry to have access to subsidy gaps which will automatically pave the way for a review of existing tariffs which stakeholders in our industry are forced to comply with.
“After the audacious act of signing an EO to create a heritage, which we shall consolidate and preserve, the PSN and its leadership will work towards instituting a landmark in intensive care management with holistic local content.
“Finally, we assure the President Tinubu and the Honourable Coordinating Minister of Health of our total commitment towards the activation and actualization of the EO.”
