Senator Shehu Sani, a former lawmaker, has suggested that the removal of the customs duties on imported drugs has not reflected in the prices of medical supplies.
Sani said even with the policy,
there has not been a drop in prices of drugs at the pharmaceutical shops
despite President Bola Tinubu signing an executive order to suspend import
duties.
“The removal of the customs
duties on imported drugs has not resulted to a drop in prices of drugs at the
pharmaceutical shops,” the ex-lawmaker posted on X on Sunday.
Tinubu in June signed an
executive order to suspend import duties and value-added tax on essential
medical supplies imported into the country.
This was aimed at easing the
high cost of locally producing pharmaceuticals, diagnostics, and medical
devices such as needles and syringes, among others.
Minister of Health and Social
Welfare, Muhammad Ali Pate, who announced the development said: “The order is
pivotal to the success of the Initiative for Unlocking the Health Care Value
Chain which was approved in October 2023 by the President.
“The order introduces zero
tariffs, excise duties and VAT on specified machinery, equipment and raw
materials, aiming to reduce production costs and enhance our local
manufacturers’ competitiveness.”
Post a Comment