Tinubu signs executive order to slash pharmaceutical prices

has signed an executive order to introduce zero tariffs, excise duties and Value-Added Tax on imported pharmaceutical inputs, a statement by the coordinating Minister of Health and Social Welfare, Muhammad Ali Pate has said.

His words: “In a transformative move to revitalize the Nigerian health sector, His Excellency President Bola Ahmed Tinubu, GCFR @officialABAT, has signed an Executive Order aiming to increase local production of healthcare products . The Minister noted that the order is crucial to the success of the initiative for unlocking the healthcare value chain , which was approved in October 2023 by the president.

“The Order also provides for establishing market shaping mechanisms such as framework contracts and volume guarantees, to encourage local manufacturers.”

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