The Pharmaceutical Society of Nigeria (PSN) is complaining that Presidential Tinubu’s executive’s order for zero tax on imported pharmaceutical inputs has not been implemented more than two months after the policy’s pronouncements.
The PSN also decried the absence of pharmaceutical companies in Akwa Ibom State, and is engaging with the State’s Government for the establishment.
Prof Cyril Usifoh, PSN President disclosed this to newsmen in Uyo, Akwa Ibom State, following the PSN National Council Meeting in the State to further deliberate on challenges facing the society and her engagement with government and other critical stakeholders.
President Bola Tinubu had in June signed the executive order to introduce zero tariffs on excise duties and value added tax (VAT) on imported pharmaceutical inputs.
The order listed Active Pharmaceutical Ingredients (APIs), excipients, other essential raw materials required for manufacturing of crucial health products like drugs, syringes and needles, Long-lasting Insecticidal Nets (LLINs) and Rapid Diagnostic Kits, among specific items to be affected.
The PSN President said that the members have been having quarterly meetings with the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, on how to tackle the challenges going forward. Prof Usifoh added that the Society has also engaged the Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, on the need to restore full funding to the regulatory body so as to meet its mandates.
He said, “We are hopeful the Presidential Order on zero tariffs for pharmaceuticals raw materials and medical devices will bring down the prices of medicine in the country. As healthcare professionals, we are concerned about best healthcare delivery through quality drugs and other clinical services in the country.
“Our plan is to bring down the prices of pharmaceuticals. So we have been having quarterly meetings and discussions with the Coordinating Minister of Health and Social Welfare as well as other stakeholders in the value chain, telling them what we are passing through.
“We have also engaged the Minister of Justice and the Attorney General of the Federation, Prince Lateef Olasunkanmi Fagbemi, on the need to fund regulatory agencies. We hope that in the next couple of weeks, funding shall be fully restored.”
He also announced PSN’s move to partner Akwa Ibom State Government on establishment of pharmaceutical companies in the state with the governor, Pastor Umo Eno, giving green light to the idea.
The PSN boss emphasised that, “During our meeting with the governor two days ago, we discussed the possibility and from what he said, he has acceded to the decision.
“We believe if the Governor engages us and the industrial people properly, we will not only produce high quality drugs but be able to supply to the West African Sub-Region and that will be a foreign exchange earner for the state and indeed Nigeria. Country like Gabon will start importing very high quality medicine from Nigeria.”