GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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HEALTHCARE PROVIDERS URGE NAFDAC TO REDUCE COST OF GMP CERTIFICATES. (PHOTO).

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 Healthcare providers urge NAFDAC to reduce cost of GMP certificates. 

Healthcare Equipment and Allied Equipment Products Providers of Nigeria has urged the National Agency for Food and Drug Administration and Control to reduce the cost of Good Manufacturing Practice certificates for medical devices..


HEPAN also lauded President Bola Tinubu for signing the executive order to increase local production of medical and other healthcare products..


Recall that in June, the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, announced that President Tinubu had signed an executive order to increase local production of healthcare products, including pharmaceuticals, diagnostics, devices such as needles and syringes, biologicals, medical textiles, and more..


Pate said the order is pivotal to the success of the Presidential Initiative for Unlocking the Healthcare Value Chain, which was approved in October 2023 by the President..


He explained that the order introduces zero tariffs, excise duties, and Value Added Tax on specified machinery, equipment, and raw materials, aiming to reduce production costs and enhance the competitiveness of local manufacturers..

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