Buhari approves import duty, VAT waivers for critical medical equipment
President Muhammadu Buhari has approved the waiver of import duty and VAT for critical medical equipment and supplies, for a period of six months in the first instance, with effect from 1st May, 2020.
These waivers are the latest of the fiscal policies measures introduced by FG to combat the economic implications of the #COVID19 pandemic, and to support the strengthening of health infrastructure in Nigeria.
The Presidency revealed this in a series of tweets on Thursday.
It explained that the President’s action was part of measures put in place by the Nigerian government to address the impact of the COVID-19 pandemic on its economy.
According to the Presidency, the waivers which are the latest of the fiscal policies also aim to boost the health infrastructure in the country.
Meanwhile, President Buhari has directed the Nigeria Customs Service to ensure that, in line with Standard Operating Procedures for the clearance of humanitarian/relief materials, these critical medical equipment and supplies are given expedited clearance at all times.
These measures to facilitate the importation of some COVID-19 essential medical supplies are in line with the indicative list recommended by the World Customs Organisation in conjunction with the World Health Organisation
He stressed that this should be done in line with the standard operating procedures for the clearance of humanitarian and relief materials.
It added that the list was reviewed by the Ministry of Industry, Trade and Investment, as well as the Ministry of Finance, Budget and National Planning.