The Association of Nigerian Representatives of Overseas Pharmaceutical Manufacturers has called on the Federal Government to implement the Economic Committee of West African States’ Common External Tariff.
The NIROPHARM Chairman, Mr. Lekan Asuni, said there was a need for the government to remove all bottlenecks that frustrated the ease of doing businesses at its parastatals.
Asuni spoke at the association’s seminar tagged ‘Ease of Doing Business in the Pharmaceutical Industry’ in Lagos.
The NIROPHARM chairman, who called for the removal of taxes on selected pharmaceutical products, said the move would reduce the cost being passed onto patients who, according to him, are already burdened with diseases. Asuni said, “Adhering to the ECOWAS CET will foster an enabling environment for the pharmaceutical industry and give room for all stakeholders to collaborate for a better economy. The tariff on raw materials should also be different from that on manufactured goods. Pharmaceutical products with public health importance should be given some preference.
“The Federal Government must also address this if Nigeria is to be one of the 20 largest economies in the world and also consolidate its leadership role in Africa, while establishing itself as a significant player in the global economic and political arena.”
The representative of the Ministry of Industry, Trade and Investment, Dr. Francis Alaneme, urged members of the association to increase their local content to boost the economy.
Alaneme said a 40 per cent local content policy would be enforced in some sectors to increase the patronage of local materials.
By: Bukola Adebayo
The Punch News
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