NAFDAC repositions micro, small, medium enterprises

By Hassan Zaggi

The National Agency for Food and Drug Administration and Control (NAFDAC) has expressed its commitment to continue to encourage the Micro, Small, and Medium Enterprises (MSMEs) in order to harness the potentials of trade and investment for the nation’s economic growth and sustainability.

The Director General of NAFDAC, Prof Mojisola Adeyeye, disclosed this at the National Trade and Investment Summit, 2020, in Lagos.

Alongside other national stakeholders on the National Action Committee (NAC) for the implementation of African Continental Free Trade Agreement (AfCFTA), she said that her agency is committed to its successful implementation, once it comes into effect.

According to her, this is because of its advantages to Nigeria’s economy and healthy competition it will engender in the operations of MSMEs in the non-oil sector of the national economy.

The NAFDAC DG noted that the economy of Nigeria is undergoing diversification from oil to non-Oil products, stressing that the MSME sector would play a critical role to achieve this transformation.

Upon formalisation of processes, she said, MSMEs would get involved in export of regulated products including Food – Shea Butter, honey to mention a few.

Globally, MSMEs contribute up to 45% of total employment and up to 33% of National Income in emerging economies. In a recent review of 2017 survey according to National Policy on MSMEs, it was revealed that in Nigeria there were 41.4 million MSMEs.

Prof Adeyeye however, emphasised that the significance of MSMEs in the nation’s economy cannot, therefore, be over-emphasized, stressing that if enabling environment is provided, MSMEs could get the country out of the present predicament of unacceptable rate of unemployment, illicit financial engagements, insecurity, political and social violence.

She said that NAFDAC being an active member of the Presidential Enabling Environment Council (PEBEC) has continued to support the job creation agenda of the present administration in line with the provisions of Executive Order No. 001.

To further encourage the sector, she recalled that on the May 15, 2020, NAFDAC launched the assisted registration through NAFDAC Automated Product Administration and Monitoring System (NAPAMS) for MSMEs as a means in easing their registration processes. The launch ran concurrently in the six geo-political zones plus FCT and Lagos state.

Related Posts

Leave a Comment

This News Site uses cookies to improve reading experience. We assume this is OK but if not, please do opt-out. Accept Read More