FG grants new MSMEs 80% discount on product registration with NAFDAC

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Factual Pursuit of Truth for Progress

Gbadamosi Oladimeji

The Federal Government has announced that new Micro Small and Medium Enterprises (MSMEs) can now process registration of their products with National Agency for Food Administration and Control (NAFDAC) at 80% discount for the next six months.

Vice President and Head of the Economic Sustainability Committee, Professor Yemi Osinbajo, made the announcement on Friday night, through his twitter handle.

According to him, “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”

The VP added that all thanks goes to the NAFDAC’s e-Registration assistance for MSMEs through the Automated Product Administration and Monitoring System (NAPAMS).

While speaking on the challenges facing the Nigeria economy, Osibanjo noted that, in recognition of the current economic challenges, the Federal Government had also commissioned additional NAFDAC palliative for MSMEs.

He explained that the NAFDAC palliative for MSMEs will 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’s 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 through these times”, he noted.

“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.

Osinbajo further urged business owners in the country not to panic as the Federal Government is working towards achieving normalcy in the economy.

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