MSMEs to enjoy 80% reduction in NAFDAC registration fees

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The National Agency for Food Drug Administration and Control (NAFDAC), as a measure to help in cushioning the effect of COVID-19 pandemic on businesses and stimulate business growth has a reduction in registration fees to support for micro, small and medium enterprises (MSMEs). The agency also introduced an assisted e-registration platform tagged NAFDAC Automated Product Administration and Monitoring System (NAPAMS).

In addition, the first 200 micro and small businesses to register on the  NAPAMS platforms will be allowed to do so at ZERO cost. NAFDAC will also grant waiver on administrative charges for late renewal of expired licenses of products within a period 90 days.

The Vice President who is also the head of Economic Sustainability Committee, Professor Yemi Osinbajo stated through his verified Instagram handle – ‘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. This is thanks to NAFDAC’s e-Registration assistance for MSMEs through the Automated Product Administration and Monitoring System (NAPAMS).
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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.
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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 through these times.
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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.”

This initiative is a palliative and it is in tandem with the Federal Government’s ‘Ease of Doing Business” effort.

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