NAFDAC Woos MSMEs With 80% Discount, Waivers On Charges.

By AMINA HUSSAINI and ANGEL JAMES Last updated Sep 19, 2020

AMINA HUSSAINI, Abuja and ANGEL JAMES

Micro, Small, and Medium Enterprises (MSMEs) that register their products on the electronic platform of the National Food and Drug Administration Control (NAFDAC) will get an 80 percent discount over a period of six months.

Equally, the first batch of 200 that registers on the e-platform of the Food and Drug Agency will enjoy zero tariffs in addition to a 90-day waiver on administrative charges for the late renewal of an expired license.

These are parts of a set of palliatives by the federal government to MSMEs to survive the current economic realities brought about by the Covid-19 pandemic.

Vice President Yemi Osinbajo said these palliatives reflect the Buhari administration’s determination to support MSMEs and the priority for small businesses as the engine of growth.

Global economy has been dislocated while businesses require practical measures to mitigate the impact of the Coronavirus pandemic.

Osinbajo speaking at the virtual launch of palliatives for MSMEs by the National Agency for Food and Drug Administration and Control (NAFDAC) in Abuja assured small businesses of government support to wade through the current crisis.

“Of importance to the government’s response was to find ways of not just giving succour and assistance to existing MSMEs but also ensuring that there is practical and active fillip to new MSMEs so that the growth of this sector is not discouraged by the current economic trauma.

“This is our moment and the government of Nigeria and its regulatory agencies are prepared to back MSMEs and other businesses that are prepared for the innovative and interesting times that lie ahead of us.”

At the event that drew representatives from federal regulatory agencies in the MSMEs sector, Osinbajo was specific about some of the steps taken by the Federal Government to protect private investments especially small businesses in the country which aimed at insulating businesses from imminent collapse.

“Just after the first index case of the disease was discovered in Nigeria and before the lockdowns began, Mr. President put together strategic teams to immediately determine the impact of the disruptions likely to be caused to the economy and what our immediate and medium to long term approach should be.

“The vulnerability of MSMEs to the severe shocks that were to follow was priority at every consideration of the issues. But perhaps even our best projections could hardly have predicted the massive economic disruptions, the unprecedented number of business failures, job losses of what began as a health challenge and the ensuing lockdowns would cause especially to MSMEs, who, of course as you know, are the backbone of our entire economy.

“As the President has repeatedly urged, we have no excuse not to be one of the most productive and prolific economies in the world. Our hope is to achieve this aim in the incredible numbers of MSMEs that we have,” the VP noted.

He described the launch of NAFDAC palliatives for MSMEs as “a thoughtful and strategic response to the devastation caused by the COVID-19 pandemic”.

According to the Vice President, “This is why the e-registration assistance for MSMEs through the Automated Product Administration and Monitoring System (NAPAMS) is so timely.

“These are all indicators of the new spirit of NAFDAC and foretaste of the support MSMEs stand to enjoy in wading through these trying times. But this is not a new undertaking for us. It is merely an extension or intensification of the Federal Government’s long-standing commitment to MSMEs.”

The VP urged regulatory agencies involved in the MSMEs sector to improve on their service delivery noting that “we expect to see from them in terms of innovation, adaptability in the next few months and through the challenges that we will be seeing in business environment.”

He then added that “I am sure that NAFDAC, SMEDAN, BOI and all of our MDAs concerned with the MSMEs see this period as one when we must work with the MSMEs, identify with them, and must be quick on the job to ensure we are able to resolve all of the problems that they have.”