FG begins full tax waiver on drugs January

The Federal Government has said that it will commence full implementation of tax waiver on drugs from January 2025. It said that the move aimed at reducing healthcare costs and making other essential medicines more accessible to Nigerians.

Director of Food and Drugs Services, Federal Ministry of Health, Olubunmi Aribeana, disclosed this when officials of the ministry visited the Sagar Vitaceutical Nigeria Limited in Sagamu, Ogun State, on Monday.

“The tax waiver on drugs is a critical step towards achieving universal health coverage in Nigeria.

“This waiver will not only reduce the financial burden on patients but also encourage local pharmaceutical manufacturers to produce high-quality, affordable drugs.

“The timeline for implementation of the tax waiver on drugs is a month. Hence, by January 2025, the full implementation will commence,” Aribeana said. In his remarks, the Director of Hospital Services, Dr Jimoh Salaudeen, hailed Sagar Vitaceutical Nigeria Limited for its quality services and facilities, saying it would boost production in the healthcare system.

In his remarks, the Managing Director of the firm, Aakash Kothari, called for collaboration to aid the production of locally manufactured pharmaceuticals to boost delivery in the healthcare system.

Also, the Coordinator of the National Cancer Control and Nuclear Medicine Programme, Dr Nwokwu Uchechukwu, urged the company to liaise with foreign counterparts to locally produce cancer drugs in the country.

This, according to him, will aid reduction in the cost of cancer treatment and medication.