National Agency for Food and Drug Administration and Control (NAFDAC) has mapped out strategies to support Micro Small and Medium Enterprises in surviving the temporary economic fallouts triggered by the fuel subsidy removal.
The agency’s Director-General, Mojisola Adeyeye, revealed this in a statement issued to newsmen recently in Abuja by NAFDAC media consultant, Olusayo Akintola.
Adeyeye said the aim of these new strategies was to help MSMEs survive the economic situation from the fuel subsidy removal and make the ease of doing business better in Nigeria.
She added that the agency had reduced the present administrative charges for late renewal of NAFDAC-regulated products to make the business environment more investment-friendly in a swift response to the realities of the time.
She said: “This translates to a 65 percent decrease in processing fees for the renewal of registration for locally manufactured products (which will be N44,200).
“In addition, the agency has also granted a 10 percent review of tariff structure for facility and inspection fees for Special Economic Zones as businesses across the world confront the disruptions caused by the global economic meltdown.
“NAFDAC will continue to adopt and implement practical measures to ensure that the projected growth in the MSMEs sector is not seriously affected by the development.”
She stated that the agency’s response is “to give succour and assistance to existing MSMEs, but also ensure that there is a practical and active fillip to new MSMEs.”
She said: “We have no excuse not to be one of the most productive and prolific economies in the world. We hope to achieve this aim in the incredible numbers of MSMEs that we have.”
She labelled NAFDAC palliatives for MSMEs as a thoughtful and strategic response to the realities of the present time and added that those were indicators of the new spirit of NAFDAC and foretaste of the support for MSMEs in these trying times.
She said: “This is not a new undertaking for the agency; it is merely an extension or intensification of the Federal Government’s long-standing commitment to MSMEs.”
