NAFDAC Slashes Registration Fees By 50% For SMEs

The National Agency for Food, Drug Administration and Control (NAFDAC) recently announced that it has slashed the registration fee for locally manufactured products by 50% (Fifty per cent) with a view to encouraging Small and Medium-Scale Enterprises (SMEs) and promoting the overall economic development of Nigeria. In a statement issued by Abubakar Jimoh, the spokesperson of the NAFDAC, he noted that this development was made further to the policy of the Federal Government to promote locally-manufactured products, in order to enhance the Nigerian economy.

We understand that this directive is yet to be implemented by the NAFDAC, however, we commend this development and are of the view that if implemented, the directive will provide SMEs in Nigeria with the much needed support for growth and move the economy in a positive direction.