Tinubu’s Executive Order Suspends Import Duties on Drugs, But Prices Remain High, Says Senator Shehu Sani
In a move aimed at increasing the affordability of medical supplies in Nigeria, President Bola Tinubu’s executive order suspended import duties and value-added tax on essential medical items. However, Senator Shehu Sani has expressed disappointment, arguing that the policy has not led to a significant drop in prices of drugs at local pharmaceutical shops.
According to Senator Shehu Sani, the removal of custom duties on imported drugs has not resulted in a corresponding decrease in prices of medication. This is despite the executive order signed by President Tinubu in June aimed at easing the high cost of locally producing pharmaceuticals, diagnostics, and medical devices like needles and syringes.
Tinubu’s executive order was initiated as part of the Initiative for Unlocking the Health Care Value Chain, which was approved by the President in October 2023. Under this order, zero tariffs and duty exemptions were introduced on specified raw materials, machinery, and equipment to increase the competitiveness of local manufacturers.
Minister of Health and Social Welfare, Muhammad Ali Pate, emphasized the importance of the policy in achieving the success of the initiative. By introducing zero tariffs, excise duties, and VAT on specified supplies, the government aims to reduce production costs for local manufacturers and enhance their competitiveness.
Unfortunately, Senator Shehu Sani suggests that the policy has not yet yielded expected results. The former lawmaker expressed these concerns on X on Sunday, highlighting the need for further action to effectively reduce the cost of medical supplies.
With the ongoing efforts to improve accessibility and affordability of healthcare services in Nigeria, Senator Shehu Sani’s remarks serve as a reminder that more needs to be done to ease the burden on patients and healthcare facilities.
