Nigeria exempts taxes on pharmaceutical raw materials for two years to boost local drug production.

Nigeria has initiated a two-year tax exemption on raw materials for pharmaceutical production to boost local healthcare manufacturing and reduce costs. Approved by President Bola Tinubu, the policy exempts import duty and VAT on essential ingredients like APIs, excipients, and other critical materials. This move aims to attract investments and enhance domestic pharmaceutical production, with the Nigeria Customs Service monitoring implementation through quarterly reports.