Again, President Tinubu Signs Executive Order to Boost Local Production of Health Products, Others…details

President Bola Ahmed Tinubu, GCFR (@officialABAT), has signed an Executive Order to boost local production of healthcare products, including pharmaceuticals, diagnostics, and medical devices. The Minister of Justice and Attorney General of the Federation (@FedMinOfJustice), Prince Lateef Olasunkanmi Fagbemi SAN (@LOFagbemi), will codify the new Order.

This Order is key to the success of the Initiative for Unlocking the Health Care Value Chain (@PVAC_NG), approved in October 2023. It introduces zero tariffs, excise duties, and VAT on specified machinery, equipment and raw materials to reduce production costs and enhance local manufacturers’ competitiveness. Key items include Active Pharmaceutical Ingredients (#APIs), excipients, syringes, needles, Long-lasting Insecticidal Nets (#LLINs), and Rapid Diagnostic Kits.

The Order also establishes market-shaping mechanisms like framework contracts and volume guarantees to encourage local manufacturing. It mandates collaboration between the Ministers of Health (@Fmohnigeria), Finance (@FinMinNigeria), and Industry, Trade and Investment (@TradeInvestNG) to develop a Harmonised Implementation Framework, expediting regulatory approvals and reducing bottlenecks. Agencies including the Nigeria Customs Service (@NgCustoms), @NafdacAgency, @SONNigeria and @FIRSNigeria will ensure swift implementation, with special waivers and exemptions effective for two years.

This Order aims to encourage medical industrialisation, reduce costs of medical products through import substitution, create economic value and enable job creation in the healthcare value chain.