The National Agency for Food and Drug Administration and Control, NAFDAC, has rolled out strategies to help Micro Small and Medium Enterprises survive the temporary economic fallouts occasioned by the fuel subsidy removal.
The Director-General of the agency, Mojisola Adeyeye, made this known in a statement issued to newsmen on Monday in Abuja by NAFDAC media consultant, Olusayo Akintola.
Adeyeye said the new set of strategies was targeted to help MSMEs survive the economic situation from the fuel subsidy removal and to enhance the ease of doing business in Nigeria.
She added that the agency had reviewed downward, the present administrative charges for late renewal of NAFDAC-regulated products to make the business environment more investment-friendly in a quick response to the realities of the time.
“This translates to a 65 percent decrease in processing fees for the renewal of registration for locally manufactured products (which will be N44,200),” she said.
This is against what is currently charged and 45 percent of the processing fee for foreign products (which will be $ 450) as against what is currently charged.
She noted, “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 explained that the response of the agency was not just “to give succour and assistance to existing MSMEs, but also ensure that there is a practical and active fillip to new MSMEs.
This, the NAFDAC boss said will ensure that the growth of the sector is not discouraged by the current economic trauma.
She said it was the right moment for the agency and that NAFDAC, as a regulatory body, was prepared to back MSMEs and other businesses that were ready for the innovative and interesting times ahead.
“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 stated.
She described NAFDAC palliatives for MSMEs as a thoughtful and strategic response to the realities of the present time, adding that those were indicators of the new spirit of NAFDAC and foretaste of the support for MSMEs in the trying times.
“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,” she noted.
Punch / Titilayo Kupoliyi