MIRIAM NNOLI 
The Federal Government through the Ministry of Health has announced the finalization of the Executive Order to enforce zero Value-Added Tax (VAT) and excise duties on pharmaceutical products and medical devices.
This development was contained in a statement issued on Wednesday by the Head of Information and Public Relations at the Federal Ministry of Health and Social Welfare, Alaba Balogun.
According to the statement obtained by New Telegraph, the finalization of the Executive Order’s harmonized implementation framework has now been cleared for gazetting.
READ ALSO
- PTD Hails FG On Removal Of VAT On Diesel, Cooking Gas
- FG Removes VAT On Cooking Gas, CNG, Diesel, Others
- 13% Derivation: Oil Producing States’ Allocation Jumps 105% To N810.77bn
The statement reads, “This critical step ensures that the Federal Inland Revenue Service and the Nigeria Customs Service can proceed with the implementation of zero VAT and excise duties on pharmaceutical products and medical devices
“This is a significant milestone, as it opens the door for our local pharmaceutical and medical device manufacturers to begin fully benefiting from the relief measures outlined by His Excellency, President Bola Ahmed Tinubu, in the Executive Order.
“With the implementation of this Executive Order, we anticipate a notable reduction in the prices of essential pharmaceutical products and medical consumables.
This development aligns with the Ministry’s unwavering commitment to reducing both the physical and financial pain faced by millions of Nigerians who depend on these critical health supplies.”
