FG Rolls out Palliatives to Support Small Businesses
Gboyega Akinsanmi
The Vice President, Prof. Yemi Osinbajo reeled the incentives on Friday at the virtual unveiling of palliatives for MSMEs by NAFDAC, tasking other agencies of the federal government to come up with palliatives for the MSMEs. He listed NAFDAC’s palliatives to include e-registration of MSMEs/products at 80% discounted rate over a period of six months; zero tariffs for the first 200 micro and small businesses to register on the e-platform and waiver on administrative charges for overdue late renewal of expired licenses of micro/small businesses products for a period of 90 days.
“This is our moment and the government of Nigeria and its regulatory agencies are prepared to back MSMEs and other businesses that are prepared for the innovative and interesting times that lie ahead of us”, he added. The vice president explained that the vulnerability of MSMEs to the severe shocks that were to follow was priority at every consideration of the issues.
He described the launch of NAFDAC palliatives for MSMEs as “a thoughtful and strategic response to the devastation caused by the COVID-19 pandemic.
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