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FG Plans Zero VAT For Pharmaceuticals

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The Federal Government on Wednesday said it has finalised the Executive Order to implement zero Value-Added Tax and excise duties on pharmaceutical products and medical devices.

Disclosing this in a statement, the spokesman of the Federal Ministry of Health and Social Welfare, Alaba Balogun, said finalisation of the Executive Order’s harmonised implementation framework has now been cleared for gazetting.

“This critical step ensures that the Federal Inland Revenue Service and the Nigeria Customs Service can proceed with the implementation of zero VAT and excise duties on pharmaceutical products and medical devices,” he said.

“This is a significant milestone, as it opens the door for our local pharmaceutical and medical device manufacturers to begin fully benefiting from the relief measures outlined by His Excellency, President Bola Ahmed Tinubu, in the Executive Order.

“With the implementation of this Executive Order, we anticipate a notable reduction in the prices of essential pharmaceutical products and medical consumables.

“This development aligns with the Ministry’s unwavering commitment to reducing both the physical and financial pain faced by millions of Nigerians who depend on these critical health supplies.”

According to the statement, the gazetting of the harmonised implementation framework represents the realisation of the third pillar of the Ministry’s four-point agenda, which focuses on unlocking the healthcare value chain.

This comes about four months after the Coordinating Minister of Health and Social Welfare, Prof Muhammad Pate, announced that President Bola Tinubu signed an executive order to increase local production of healthcare products, including pharmaceuticals, diagnostics, devices such as needles and syringes, biologicals, medical textiles, and others.

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Third Explosion In A Week Rocks Dansadau-Gusau Road, Claims Lives Of Travellers

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Tragedy struck yet again on the Dansadau-Gusau road as another explosion killed multiple travellers on Friday, marking the third such incident in less than a week.

The explosion occurred between Dansadau to Malele road, causing significant damage.

A resident of the area who pleaded anonymity for security reasons told Channels Television that a truck vehicle conveying about 100 bags of grains and passengers to Dansadau market hit an improvised explosive device (IED) planted along the route, resulting in a devastating explosion.

Authorities and locals have yet to confirm the exact number of casualties, but the resident said several travellers killed during the blast.

“Till now, we are yet to confirm the exact number of people killed, we are waiting for the people from Malele community to give us the actual figures,” the source said.

“The incident happened around 8:30 am, the distance between the scene of the explosion to Dansadau is just few kilometres.”

The source added that the second explosive planted by the terrorists was discovered by the troops who defused it.

“The soldiers who rushed to the scene of the bomb discovered another bomb that was yet to detonate, they used their machine to check and took it inside the bush to defuse it,” he stated.

The recurring blasts have heightened fears among residents and commuters, who now consider the highway a death trap.

Just two days ago, a similar incident claimed the lives of six persons, sparking widespread calls for urgent government intervention.

The police authorities in the state had earlier accused the newly formed terror group Lakurawa as the mastermind of the recent explosions that occurred along the Dansadau-Gusau Road.

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Nigeria’s Economy Still Facing Crisis, CBN Admits

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The Governor of the Central Bank of Nigeria (CBN) Yemi Cardoso has acknowledged that Nigeria remains in a financial and economic crisis, a situation inherited by the current CBN administration.

Speaking at the 14th Annual Bankers’ Committee Retreat in Abuja, Cardoso explained that the role of the bankers’ committee remains critical towards addressing the challenge as well as reflating the economy.

The CBN boss said that the nation faces challenges in how to address poverty, rising inflation, infrastructure deficits, insecurity, and unemployment, among others.

He called on members of the bankers’ committee to reflect on the past year’s challenges and devise actionable tools to address them effectively.

On his part, the Special Adviser to the President on Economic Affairs Tope Fasua expressed concerns over excess charges by point of sale operators (PoS) while calling on the apex bank as well as deposit money banks to make cash available at all ATM points.

The three-day event brings together key players in the banking sector and has the theme “Contract and Commitment to National Development and Economic Growth”.

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Alleged Mass Killings: NHRC Demands Justice For Victims

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A member of the NHRC Governing Council, Kemi Okonyedo, speaks in Abuja on December 6, 2024 at the presentation of the report from the investigative panel on human rights violations in counter-insurgency operations in the North-East, to the army.


The National Human Rights Commission (NHRC) has demanded justice and accountability for civilian victims who were allegedly killed by operatives of the Nigerian Army in the Abisari community in Borno state.

A member of the NHRC Governing Council, Kemi Okonyedo, made the demand at the presentation of the report from the investigative panel on human rights violations in counter-insurgency operations in the North-East, to the army.

The report had vindicated the military of forced systemic abortions administered on women but indicted them of intentionally killing civilians in the Abasari community

Okonyedo is demanding that those affected, be compensated.

“The killing of civilians in Abisari remains a grave violation that demands justice, accountability and immediate action,” she said.

“These are not abstract issues, they are real. Lives affected are real, families impacted exist, and communities impacted are still suffering and must be acknowledged and addressed.

“The recommendations of the panel provide a roadmap for addressing these violations, holding perpetrators accountable and ensuring that similar violations do not occur in the future.

“Among the panel’s key recommendations is compensation for the victims of the Abisari killings with the Federal Government ensuring that the families and communities affected are provided adequate reparations.”

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