Adeyanju praises Tinubu for exempting healthcare products from tax

Prominent human rights lawyer and partner at Deji Adeyanju & Partners, Deji Adeyanju, has commended President Bola Tinubu and the Nigeria Customs Service (NCS) for the two-year exemption of import duties and Value Added Tax (VAT) on essential raw materials for healthcare product manufacturing.

According to him, the significant decision, enacted through an executive order, aims to alleviate the financial burdens associated with vital medical supplies in Nigeria.

Adeyanju expressed gratitude to both President Tinubu and Customs Comptroller-General Bashir Adewale Adeniyi for their recognition of the pressing needs within the healthcare manufacturing sector.

He noted that the exemption applies to critical items, including Active Pharmaceutical Ingredients (APIs), excipients, reagents, packaging materials, Long-Lasting Insecticidal Nets (LLINs), and Rapid Diagnostic Kits.

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“This initiative represents a substantial boost to our healthcare sector, especially in these challenging economic times,” Adeyanju noted.

He stressed the importance of rigorous monitoring to ensure that only manufacturers recognised by the Federal Ministry of Health and Social Welfare, along with valid Tax Identification Numbers (TINs), benefit from these incentives.

Adeyanju urged that the initiative be considered for extension to other vital sectors, arguing that such measures are essential to mitigate the impacts of hyperinflation throughout the country.

“Lowering costs can significantly improve access to healthcare, particularly for individuals in rural communities who often face the harshest economic pressures,” he stated.

In addition to advocating for these exemptions, Adeyanju called on the government to implement more pro-people policies aimed at enhancing healthcare access for all Nigerians.

“The welfare of our citizens must remain a top priority, and strategic initiatives will pave the way for a healthier nation,” he asserted.

Moreover, he stressed the need for collaboration between the NCS and other regulatory agencies to combat the increasing prevalence of counterfeit healthcare products. Adeyanju highlighted the dire consequences of counterfeit drugs, which have claimed more lives than some health challenges themselves, urging immediate action to address this critical issue.

“Only through the diligent efforts of customs and regulatory bodies can we safeguard the health of our citizens and ensure access to genuine medical supplies,” he concluded.