The National Agency for Food and Drug Administration and Control, NAFDAC, says it has rolled out strategies to help Micro Small and Medium Enterprises, MSMEs, to survive the economic fallouts from fuel subsidy removal.
The Director-General of the agency, Prof. Mojisola Adeyeye, said this in a statement issued to newsmen on Monday in Abuja.
Adeyeye revealed that the new set of strategies was targeted to help MSMEs survive the economic situation from the fuel subsidy removal to improve the ease of doing business in Nigeria.
According to her, the agency had reviewed downward the present administrative charges for late renewal of NAFDAC-regulated products to make the business environment more investment-friendly in a quick response to the realities of the time.
“This translates to a 65 per cent decrease in processing fees for the renewal of registration for locally manufactured products (which will be N44,200).
“This is against what is currently charged and 45 per cent of the processing fee for foreign products (which will be $ 450) as against what is currently charged,” she added.
