Some stakeholders in the health sector have commended President Bola Tinubu for his executive order suspending import duties and Value Added Tax (VAT) on drugs and pharmaceutical consumables, saying it will boost Nigeria’s economy.
They gave the commendation in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Ibadan.
NAN reports that the Coordinating Minister of Health and Social Welfare, Ali Pate, had on Friday announced the signing of the executive order by Tinubu.
Pate said that the development was aimed at easing the high cost of locally-produced pharmaceutical, diagnostic and medical devices, such as needles and syringes, biological and medical textiles, among others.
“The order is pivotal to the success of the initiative for unlocking the healthcare value chain which was approved in October 2023 by the president,” the minister had said.
The acting Chairman, Nigerian Medical Association (NMA), Oyo State branch, Dr Happy Adedapo, said the policy would bring some succour to the medical sector, as more medications would be affordable to everyone.
“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. (NAN)
By Chidinma Ewunonu-Aluko