NECA lauds President’s Executive Order to boost pharmaceutical sector with zero tariffs and VAT

• NECA praises President Bola Tinubu’s executive order on zero tariff, excise duty, and VAT for pharmaceutical sector
• Order aims to boost production of essential healthcare products by reducing costs for raw materials and machinery
• Local pharmaceutical companies facing challenges due to high cost of import and shortage of raw materials
• NECA urges quick implementation of the order to help sector rebound
• Sector contributes minimally to GDP due to cost challenges and high inventory of unsold products
• NECA emphasizes the need for monitoring and stakeholder engagement for successful implementation of the order.

Source:

• vanguardngr.com
• Guardian.ng
• The Times NG

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.