NAFDAC partners MSMEs to boost economy sustainability

The Director-General of National Agency for Food and Drug Administration and Control (NAFDAC), Prof Mojisola Adeyeye has said that the agency is partnering Micro, Small, and Medium Enterprises (MSMEs) to harness the potentials of trade and investment for the nation’s economic growth and sustainability.

She further reiterated the core importance of the MSMEs role in the development and growth of the nation’s economy.

This was disclosed by NAFDAC DG at the National Trade and Investment Summit, 2020 in Lagos.

She disclosed that NAFDAC alongside other national stakeholders on the National Action Committee (NAC) for the implementation of African Continental Free Trade Agreement (AfCFTA), is fully and committed to its successful implementation, once it comes into effect (probably, 2021).

Also, as a proactive response to the challenges of COVID-19 pandemic, Prof Adeyeye said the Agency instituted palliatives for the micro and small businesses which included offering zero tariffs for the first 200 micro and small companies to register their products on the launch day and 80 per cent reduction in tariffs for the registration of micro and small enterprises products for six months.

She added that waivers were granted on administrative charges for late renewal of expired licenses for products of micro and small businesses, adding that Micro and small enterprises within the MSME classes of business were encouraged at the forum to take advantage of these laudable incentives to massively embark on e-registration of their products and the feedback was overwhelming.

“I would however like the Industry to support NAFDAC by adhering to the Agency’s laws, regulations, and guidelines while doing business to ensure quality standards and safety’, she said.

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 in achieve this transformation.

Globally, MSMEs contribute up to 45 per cent of total employment and up to 33 per cent 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.

In the words of His Excellency the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo, “MSMEs are the bedrock of Nigeria’s industrialization and inclusive economic development; and the most important component of industrialization as set out in the Economic Recovery and Growth Plan”

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 the unacceptable rate of unemployment, illicit financial engagements, insecurity, political and social violence.

“There is a need to recognize their role in employment provision and to encourage, grow and support the sub-sector’’.

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.

One of the provisions, she said, is to create an enabling environment for businesses, entrench measures and strategies aimed at promoting transparency and efficiency. The Agency carried out a lot of reforms of its activities to create an enabling environment for MSMEs businesses to thrive, focusing on micro and small companies.

She, however, said that the Agency ensures that only quality products that are safe, efficacious and wholesome reach the market and ultimately, the consuming public.

“This is achieved through vigorous regulatory activities including inspection of production facilities, sampling, review of labelling information, laboratory evaluation, post-marketing surveillance, enforcement etc.’’