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FG Abolishes VAT on Pharmaceutical Products and Medical Devices to Boost Local Manufacturing

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The Ministry of Health and Social Welfare has finalized the Executive Order Harmonized Implementation Framework, eliminating Value Added Tax (VAT) and excise duties on pharmaceutical products and medical devices.

Dr. Tunji Alausa, the Minister of State for Health and Social Welfare, revealed this in an interview with the News Agency of Nigeria (NAN) in Abuja. He emphasized that the policy, which has been cleared for gazetting, will strengthen local pharmaceutical manufacturers and lower the cost of essential healthcare products.

“This new framework enables the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service to implement the tax exemptions, allowing local producers to fully benefit from the relief measures introduced by President Bola Ahmed Tinubu,” said Alausa.

He further explained that the initiative is expected to reduce the financial burden on Nigerians who depend on critical healthcare supplies, advancing the government’s commitment to improving healthcare access and affordability.

“This is a significant step towards creating a healthier, more self-reliant nation. By supporting local manufacturers, we are unlocking the healthcare value chain and making quality healthcare more accessible for all,” he added.

The gazetting of this framework represents a key accomplishment in the Ministry’s 4-point agenda, which prioritizes local production to strengthen the nation’s healthcare sector.

Copies of the framework will be distributed to relevant agencies for immediate action. This effort is seen as a pivotal move to stabilize the pharmaceutical market and ensure the availability of essential medications at more affordable prices.

Nigerian citizens have long faced high costs for medications and medical devices, limiting access to healthcare. In response, the government has introduced several reforms aimed at supporting local pharmaceutical production and alleviating financial burdens on consumers.

The zero VAT policy on pharmaceutical products is part of a larger strategy to revitalize healthcare, ensuring that Nigerians have access to affordable and high-quality health supplies.

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TCN Acknowledges 7th Grid Collapse in 2024

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The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.

Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.

An investigation into the cause of the collapse will commence once full grid restoration is achieved.

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Jigawa Tanker Tragedy: Shettima, First Lady Mourn Victims, Pledge Federal Support

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Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.

Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.

In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.

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Nigeria Customs Intercepts Arms, Ammunition Worth N9.5bn Over Six Years

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The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.

Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.

In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.

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