NAFDAC drops 50% off registration fee paid by SMEs

In the bid to facilitate the operations of Small, Medium Scale Enterprises (SMEs), the National Agency for Food Drug Administration and Control, NAFDAC has reportedly dropped 50% off the registration fee paid by SMEs.

Knowing that the SME play a major role in the national economic drive, this move was initiated in response to the policy laid down by the Federal Government. The policy aims to encourage and support local manufacturing companies in Nigeria.

Asides facilitation of businesses run by SMEs, the initiation was birthed to curtail and unscrupulous acts of gross exploitation made on the poor small business owners.

Despite NAFDAC had initially moved to curb this insurgency by licensing some professional consultants, it did not stop these nefarious activities from infiltrating the registered consultancy firms.

Hence, a stiffer measure from NAFDAC, which will obviously nullify the duties of the licensed consultancy firms, registering on their behalf, as well as ensure NAFDAC dealing with entrepreneurs themselves. All of these were expressed vividly in the statement made in Abuja by NAFDAC spokesman Dr Abubakar Jimoh.

Sometime back, we discovered that a lot of people were extorting money from Nigerians for the registration fee of products. We decided to license some consultants who are professionals. They collect as much ₦250,000 to ₦300,000 for registration of less than ₦50,000, claiming that part of the money will be used to settle NAFDAC officials.The agency has taken decision to stop them after the expiration of their licenses; we will stop them and deal directly with intending manufacturers”

Speaking of reforms and revisit of policies to promote businesses of SMEs, it is worthy to mention that the Federal Government has been on a major one lately. It is precisely the Ease of doing Business. Certainly, with measures like these and more SMEs can definitely embrace optimism, while doing business in Nigeria.

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