The National Agency for Food and Drug Administration and Control (NAFDAC) has reassured its commitment to encourage Micro, Small, and Medium Enterprises (MSMEs) to harness the potential of trade and investment for the nation’s economic growth and sustainability.
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.
The Sun News reports, The assertion was made last week in Lagos by the Director General of NAFDAC, Prof Mojisola Adeyeye, at the National Trade and Investment Summit, 2020 where she reiterated the importance of the MSMEs in the development and growth of the nation’s economy.
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 totally committed to its successful implementation, once it comes into effect in 2021.
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.
To this end, Prof Adeyeye pointed out that NAFDAC is on the train of the NAC Secretariat that is sensitising and building the capacity of stakeholders, particularly on AfCFTA Agreements on Non Tariff Barriers (NTBs), Technical Barriers to Trade (TBT) and Agreement on Sanitary and Phytosanitary (SPS).
‘’This is in addition to her advocacy on the need to improve all the national and regulatory infrastructures that will reduce the cost of production and make the MSME products competitive in the AfCFTA Area. All our operations are set and ready to accommodate AfCFTA’’.
Upon formalisation of processes, she said MSMEs would get involved in export of regulated products including Food – Shea Butter, honey to mention a few.