President Muhammadu Buhari, on Thursday, has approved a waiver of import duty and Value Added Tax (VAT) for critical medical equipment and supplies in the country.
The presidential approval for these items were revealed this in a series of tweets, saying the waiver was for a period of six months in the first instance.
The tweets explained that the president’s action was part of measures put in place by the Nigerian government to address the impact of the Coronavirus pandemic on its economy.
According to the Presidency, the waivers which were the latest of the fiscal policies also aim to boost the health infrastructure in the country.
Meanwhile, President Buhari has also directed the Nigeria Customs Service (NSC) to ensure critical medical equipment and supplies were given expedited clearance at all times.
He stressed that this should be done in line with the standard operating procedures for the clearance of humanitarian and relief materials.
The Presidency noted that the measures to facilitate the importation of some COVID-19 essential medical supplies were in line with the indicative list recommended by the World Customs Organisation and the World Health Organisation (WHO).
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.