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NAFDAC slashes registration fees for SMEs by half

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NAFDAC slashes registration fees for SMEs by half

To boost Small and Medium Scale Enterprises (SMEs), the National Agency for Food Drug Administration and Control (NAFDAC) said it has waived 50 percent on registration fees for locally manufactured products.

The NAFDAC spokesperson, Dr Abubakar Jimoh, told the News Agency of Nigeria (NAN) in Abuja on Friday that the new policy introduced by the NAFDAC Acting Director-General, is in conformity with the policy of the Federal Government to promote local manufacturing companies and economic development in the country.

Jimoh said the agency discovered that a lot of people and some licensed consultants had extorted money from innocent Nigerians in the past, in the name of NAFDAC registration.

“Sometime back, we discovered that a lot of people were extorting money from Nigerians for registration fee of products. We decided to license some consultants who are professionals.

“But those unscrupulous elements fizzled into the consultancy firm that registered with us and continued their extortion from potential entrepreneurs. They collect as much N250,000 to N300,000 for registration of less than N50,000, claiming that part of the money will be used to settle NAFDAC officials.

“The agency has taken decision to stop them after the expiration of their licenses; we will stop them and deal directly with intending manufacturers,” he said.

Jimoh further said that previous NAFDAC director-general, Dr Paul Ohi, in the last seven years, introduced a policy that all young graduates willing to establish businesses would be given waiver. He however said that young graduates undertaking the NYSC were not taking advantage of the policy.

The spokesperson noted that NAFDAC recently established a Small Business Desk to guide people going into SMEs on how to set up their small factories.

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