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Federal Government to Implement Tax Waiver on Drugs from January 2025
The Federal Government has announced that it will fully implement a tax waiver on drugs starting from January 2025. This initiative aims to lower healthcare costs and improve access to essential medicines for Nigerians.
Olubunmi Aribeana, Director of Food and Drugs Services at the Federal Ministry of Health, shared this update during a visit to Sagar Vitaceutical Nigeria Limited in Sagamu, Ogun State, on Monday.
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According to Aribeana, the tax waiver is an important step towards achieving universal health coverage in the country. “This policy will ease the financial burden on patients and encourage local pharmaceutical companies to produce affordable, high-quality medications,” she said, adding that the implementation would begin within a month.
Dr. Jimoh Salaudeen, Director of Hospital Services, praised Sagar Vitaceutical for its state-of-the-art facilities and commitment to quality, noting that it could strengthen the production of vital healthcare products in Nigeria.
The firm’s Managing Director, Aakash Kothari, called for partnerships to support the growth of local pharmaceutical manufacturing, emphasizing its importance in improving the healthcare system.
Dr. Nwokwu Uchechukwu, Coordinator of the National Cancer Control and Nuclear Medicine Programme, urged the company to work with international partners to produce cancer drugs locally. He explained that this step could significantly lower the cost of cancer treatment for patients in the country.
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