As part of the efforts to improve the ease of doing business in the country, the federal government Tuesday ordered the National Agency for Food and Drug Administration (NAFDAC) to reduce products registration period by 30 days.
Currently, it takes 90 days to register products with NAFDAC.
With the new directive, henceforth registration of should not be more than 60 days.
Speaking in Abuja Tuesday at the NAFDAC stakeholdersâ€™ consultative forum on the ease of doing business in Nigeria, the Vice President, Yemi Osibanjo, said that this will encourage business owners.
The Vice-President, who was represented by his Special Adviser on Micro, Small and Medium Enterprises, Fola Johnson, said a shorter period of sixty days is possible.
He therefore charged NAFDAC to speed up its process of registration as this was one of the best ways to encourage small businesses.
He said, â€œSixty days is possible. Collectively let us put our house in order. Let MSMEs, NAFDAC and the Federal Government, target 60 days. The shorter the time for registration, the better for MSMEs, because just to collect a registration numbers should not take months, when will you start the business? When will you start making profits?
â€œAny MSME that employs a person today is doing the Federal Government a huge favour. What the Federal Government is supposed to do is create an enabling environment.
â€œIt is the private sector that drives the economy, so we must encourage every activity that drives that space,â€ he said.
In his reaction, the acting Director-General of NAFDAC, Mr. Ademola Mogbojuri, said the agency had reduced its registration period from a maximum of one year to a minimum of 90 days.
He however assured that efforts would be made to ensure that it is brought down to between a month and 60 days especially for small businesses.
On other measures taken to encourage small businesses, Mogbojuri, who was represented by Mr. Abubakar Jimoh, Director, Strategy said the agency had recently slashed by 50 per cent the cost of registration for companies with less than five employees.
He said: â€œIn order to encourage MSMEs, NAFDAC has guaranteed a 50 per cent reduction in cost of registration of products for companies with five or less than five employees â€œWeâ€™ve also reduced the registration time to 90 days and established a small business support desk to guide small business through the registration process and serve as enquiry point for small businesses on regulatory issues.
â€œNAFDAC has set up a system for the electronic submission of documents to line directorates to reduce the time taken for hard copies to get to such directorates in Lagos,â€ he noted.
Magbojuri also hinted that NAFDAC would ensure that bread registration is done within 30 days while the fees charged for registration of locally manufactured products are lower than those charged for import.
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