Presidency reacts as NAFDAC suspends tariff hike for small businesses



Mr Tola Johnson, a presidential aide, has commended the National Agency for the Administration of Food and Drug Control (NAFDAC), for suspending its recent hike of tariffs of Micro, Small and Medium Enterprises (MSMEs).

Johnson, a Senior Special Assistant to the Vice President on MSMEs, recalled that the recent increase of MSMEs tariff to 60 per cent by NAFDAC made pressure groups and MSMEs across the country to agitate and express dissatisfaction because it was not favourable.


He gave the commendation on Thursday in Abuja at the 2019 “World MSMEs Day” celebration organised by Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), NAN reports.

“I commend NAFDAC for giving listening ears to the MSMEs; an increase from N10,000 to N84,000 in MSMEs tariff would have caused a lot of burden to the MSMEs in the country,” Johnson said.

He expressed satisfaction with the suspension and advised the agency to always engage all stakeholders and spell out its reasons before increasing any tariff.


Johnson also commended the Corporate Affairs Commission (CAC) for extending its bonanza period for registration of small businesses to August 2019.

He advised the MSMEs to seize the opportunity to register their businesses with appropriate and meaningful names to boost their businesses and financial transactions.

According to him, the MSMEs have major challenges which differ in various places, ranging from finance issues, power generation and training, among others.


He identified the broadest challenge facing the MSMEs as access to finance and reiterated the commitment of the Federal Government to continue to introduce laudable schemes which MSMEs could access easily with low-interest rates. 

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