“Thanks to NAFDAC’s Automated Product Administration & Monitory Systems, MSMEs can now register & certify their products at an 80% discount rate for the period of 6 month”, says the Vice President of Nigeria, Professor Yemi Osinbajo on Saturday, in a tweet seen by Investogist.
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The VP went further to say that other measures include zero tariffs for first 200 people on the platform and a waiver for late admin charges.
Thanks to NAFDAC's Automated Product Administration & Monitory systems, MSMEs can now register & certify their products at an 80% discount rate for the period of 6 months
Other measures include zero tariffs for first 200 people on the platform and a waiver of late admin charges. pic.twitter.com/UYwdQnQlOK
— Prof Yemi Osinbajo (@ProfOsinbajo) May 16, 2020
NAPAMS is an e-registration and data capture system that provides an online electronic medium for the application for products registration with NAFDAC (National Agency for Food and Drug Administration and Control) and the data capture of all existing and current products approved by NAFDAC.
NAPAMS which is now in its second version; NAPAMS v2 “was introduced by the agency to remove critical bottlenecks and bureaucratic red tapes that hinder the smooth registration and regulatory activities MSMEs”.
MSME Classification adopted from National Policy on MSMEs are;
- Micro Enterprises: Employing less than 10 people.
- Small Enterprises: Employing between 10 and 49 people.
- Medium Enterprises: Employing between 50 and 199 people.
According to information available on NAFDAC website, “the tariff applicable to Micro and Small-Scale Enterprises are extract from the General Tariff. Please note that the reduced tariff will be in existence for only three (3) months effective from 15th May, 2020”.
This discounted tariff is applicable to Food and Cosmetics businesses only;
An Entrepreneur seeking to make use of this opportunity should visit the NAFDAC Automated Product Administration and Monitoring System (NAPAMS).