The Nigerian federal government has announced tax waivers worth 24 billion naira for drug manufacturers, a move aimed at boosting local production of medicines and medical equipment. The incentives were introduced under a presidential executive order signed in 2024 to support domestic manufacturing of essential healthcare products.
According to Mr Pate, the tax waivers are part of a broader strategy to reduce dependence on imported pharmaceuticals and strengthen the country’s health supply chain. “These incentives will help local manufacturers increase output and improve access to affordable medicines,” he said.
The executive order specifically targets the pharmaceutical sector, but also extends benefits to producers of medical equipment and other critical healthcare items. The 24 billion naira in tax relief is intended to lower operating costs and encourage investment in local production facilities.
Health experts say that increased domestic manufacturing could improve supply security and reduce costs for patients and healthcare providers across the country. The government’s move follows a growing push to diversify the economy and create jobs in the manufacturing sector.
“These incentives will help local manufacturers increase output and improve access to affordable medicines,” said Mr Pate.
<small>Source: Premium Times Nigeria — read the original story there.</small>
