Expensive Medicines: PSN awaits implementation of Tinubu’s zero tariff on pharmaceutical inputs

By Kenneth Ako

PHARMACEUTICAL Society of Nigeria (PSN) says it anxiously awaits genuine execution of the presidential order for zero tax on imported pharmaceutical inputs to boost local production at crashing prevailing high cost of medicines in the country.

Prof Cyril Usifoh, PSN President disclosed this to newsmen in Uyo, Akwa Ibom state as fallout from weekend’s PSN National Council Meeting in the state to further deliberate on challenges facing the society and her engagement with government and other critical stakeholders.


President Bola Tinubu had in June signed the executive order to introduce zero tariffs on excise duties and value added tax (VAT) on imported pharmaceutical inputs.


The order listed Active Pharmaceutical Ingredients (APIs), excipients, other essential raw materials required for manufacturing of crucial health products like drugs, syringes and needles, Long-lasting Insecticidal Nets (LLINs) and Rapid Diagnostic Kits, among specific items to be affected.


The PSN President said members have been having quarterly meetings with the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, on how to tackle the challenges going forward.


Prof Usifoh added that the Society has also engaged the Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, SAN on restore full funding to the regulatory body so as to meet its mandate.

We are hopeful the Presidential Order on zero tariffs for pharmaceutical raw materials and medical devices will bring down the prices of medicine in the country.

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