Stakeholders in the health sector have praised President Bola Tinubu for his executive order suspending import duties and Value Added Tax (VAT) on drugs and pharmaceutical consumables.
They believe this move will bolster Nigeria’s economy, according to interviews with the News Agency of Nigeria (NAN) in Ibadan on Tuesday.
The Coordinating Minister of Health and Social Welfare, Ali Pate, announced the signing of the executive order by Tinubu last Friday. Pate emphasized that the order aims to reduce the high costs of locally-produced pharmaceuticals, diagnostic tools, and medical devices like needles, syringes, biological and medical textiles.
“The order is crucial for advancing the healthcare value chain, a measure approved by the president in October 2023,” the minister explained.
Dr. Happy Adedapo, Acting Chairman of the Nigerian Medical Association (NMA) in Oyo State, welcomed the policy, predicting it would ease pressures on the medical sector and make medications more affordable for all.
“We all know that some people’s lives depend on the intake of medication but which inflation has made very difficult to buy.
“So the policy is a good one; it will help the economy of the country, considering the present high cost of drugs.
“We are suggesting that government should continue to encourage those in the business of drug production to up their activities so that drugs will be produced locally to reduce cost.
“This initiative by the president is commendable. Indeed, we give it to the federal government. This will reduce the demand on dollars and thus help boost our foreign reserve.
“The policy will also support local drug manufacturers and the economy will get a boost. So people should key into it,” Adedapo said.
Also, the Chairman Association of Nigerian Private Medical Practitioners (ANPMP), Oyo State branch, Dr Olumuyiwa Ajanaku, said with the executive order, the Tinubu-led administration had indeed shown that it feels the pulse of the citizens.
“It is a welcome development in times like this, as it will reduce the out-of-pocket payments and make the healthcare delivery more affordable to the common man.
“It will equally help the caregivers to get various brands of drugs at affordable prices,” Ajanaku said.
To the Chairman, Association of Medical and Dental Officers, Oyo State chapter, Dr Solomon Olaoye, the signing of the executive order is a welcome development.
Olaoye said that the step would help to bring down the increasing prices of health-related consumables.
“This will have direct effects on the health of the populace, as those who are indisposed will now be able to get medical services and drugs at cheaper rates.
“The president should indeed be appreciated for this step,” Olaoye said.