Tinubu’s Tax Relief for Pharma Firms to Slash Medicine Prices, PSN Chair Says

The Chairman of the Pharmaceutical Society of Nigeria in Kwara says President Tinubu’s two-year tax waivers for pharmaceutical companies will reduce production and import costs. He expects this move to bring down drug prices nationwide and ease the burden on consumers. He explained that expensive importation of active pharmaceutical ingredients and high exchange rates have driven up medicine costs. “With this waiver, we expect a drastic price reduction,” he said, calling the policy timely for improving access to essential medicines. The PSN chair also praised the Kwara governor for health sector reforms, noting that aligning pharmacist salaries with federal rates has boosted morale and helped retain talent despite emigration trends. On professional relations, he added that pharmacists and doctors in Kwara enjoy smooth collaboration on programmes and support each other effectively.

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