COVID-19: NAFDAC offers 80% tariff reduction to register small businesses

News

COVID-19: NAFDAC offers 80% tariff reduction to register small businesses

COVID-19: NAFDAC offers 80% tariff reduction to register small businesses

By Chioma Obinna

The National Agency for Food and Drug Administration and Control, NAFDAC, the weekend rolled out palliatives for the Micro and Small businesses including 80 percent tariff reduction for registration as part of compliance with the Executive Order on the Ease of Doing Business as well as a proactive response to the challenges of COVID-19 pandemic.

Speaking during a virtual launch of the programme, the Director-General of NAFDAC Prof.  Christianah Adeyeye said the MSMEs palliative programme which will run concurrently in the six geo-political zones plus FCT, Lagos state, will be done via a reduction in Registration fees, and assisted E-registration through NAFDAC Automated Product Administration and Monitoring System (NAPAMS).

She said the agency will be offering zero tariffs for the first 200 micro and small companies to register their products from the launch day.

READ ALSO: Give Nigerians evidence-based COVID-19 therapies, scientists urge FG, NAFDAC

Adeyeye encouraged the micro and small enterprises within the MSME to take advantage of the laudable incentives to massively embark on the e-registration of their products.

“Globally, MSMEs contribute up to 45 percent of total employment and up to 33 percent of National Income in emerging economies. In a recent review of the 2017 survey according to National Policy on MSMEs, it was revealed that in Nigeria there were 41.4 million MSMEs and that about 99 percent belonged to the micro sub-sector.

“The significance of MSMEs in the nation’s economy cannot, therefore, be over-emphasized. It is believed that if an enabling environment is provided, MSMEs could get the country out of the present predicament of the unacceptable rate of unemployment, illicit financial engagements, insecurity, political and social violence. There is a need to recognize their role in employment provision and to encourage, grow, and support the sub-sector.

Speaking at the launch, the Vice President, Prof. Yemi  Osibanjo commended   NAFDAC for the strategic response to the devastation caused by the COVID-19 Pandemic to businesses especially  MSMEs in Nigeria and worldwide.

READ ALSO: COVID-19 treatment:Submit your products for clinical tests, NAFDAC tells researchers

Osibanjo said given the vulnerability of MSMES  government response was to find ways of not just giving assistance to existing MSMEs but also ensuring that there is practical and active flip to new MSMEs so that the growth of this sector is not discouraged by the current economic trauma.

“This is why the E-Registration assistance for MSMEs through the Automated Product Administration and Monitoring System (NAPAMS) is so timely; henceforth MSMEs can now process the registration of their product with NAFDAC in the comfort of their homes.

Osibanjo said National MSMEs Clinics have taken place in all states of the Federation and the idea has been to bring all relevant government Agencies closer to a full understanding of the sector’s challenges and to implement the quickest and most efficient way of resolving them.

vanguard

The post COVID-19: NAFDAC offers 80% tariff reduction to register small businesses appeared first on Vanguard News.

Vanguard News

Leave a Reply