The National Agency for Food and Drug Administration and Control reported that the processing fee for renewing registration for domestically manufactured items has been cut by 65% to N44,200.
According to the News Agency of Nigeria, the agency’s Director-General, Mojisola Adeyeye, revealed the information in a statement published by NAFDAC media consultant, Olusayo Akintola, in Abuja.
Adeyeye added that this was part of a package of initiatives to help Micro, Small, and Medium Enterprises deal with present economic issues.
“In a quick response to the realities of the time, the agency had reviewed downward, the current administrative charges for late renewal of NAFDAC-regulated products to make the business environment more investment-friendly.
“This translates to a 65% reduction in the processing expenses for renewing 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,” Adeyeye said in a statement.
The NAFDAC chief also stated that the agency had authorized a 10% revision of tariff structure for facility and inspection fees for Special Economic Zones as firms throughout the world deal with the effects of the global economic collapse.
She went on to say, “NAFDAC will continue to adopt and implement practical measures to ensure that the projected growth in the MSMEs sector is not seriously affected by the development.”
