Vice President Yemi Osinbajo has announced a whooping 80 per cent slash for registration of products with National Agency for Food and Drug Administration and Control (NAFDAC).
He said the slash is for Micro, Small and Medium Enterprises (MSMEs) and that it would last for a duration of six months.
He also explained that the registration of products can be from the comforts of their homes thanks to NAFDAC e-Registration.
“Starting today, our MSMEs can now process the registration of their products with NAFDAC from the comfort of their homes, and at an 80% discounted rate over a period of six months,” he said on his Instagram page.
“This is thanks to NAFDAC’s e-Registration assistance for MSMEs through the Automated Product Administration and Monitoring System (NAPAMS).
“Also, in recognition of the current economic challenges, we also commissioned additional NAFDAC palliatives for Micro/Small businesses, which includes zero tariffs for the first 200 micro and small businesses to register on the e-platform, and waiver on administrative charges for overdue/late renewal of expired licenses of products for a period 90 days.
“It is quite clear that the President is committed to supporting existing MSMEs and encouraging the rise of new ones, as a sure way energizing and sustaining our economy in these times.
He then went on to praise the NAFDAC boss, Mojisola Adeyeye and her team. “We reserve special commendation to the DG of NAFDAC and her team for this thoughtful and strategic response to the devastation that the COVID-19 pandemic has caused to businesses, especially MSMEs,” he said.
It would be recalled that in 2018, Prof Osinbajo announced approval of reduction for business name registration in Nigeria, slashing the fee to N5,000 from N10,000.
