The National Agency for Food, Drugs and Administration Control recently took a drastic decision by increasing the price of certain services such as registration, lab analysis, change of company name and more. This has a negative effect on small and medium enterprises and here is what some of them had to say;
“This is not fair. How ca they just impose this suddenly? It is not going to help our businesses at all.” This is what Mfon, a small scale entrepreneur had to say. Mfon was planning to extend his Zobo business by making use of branded bottles and producing bigger sizes. However, this price hike has got him rethinking.
According to some research conducted by Business Day, product registration fee increased from N73,500 to N147,000, while change in packet design increased from N10,500 to N84,000.
With this increase in price, products may begin sales and promotion without proper registration from NAFDAC. It is important for NAFDAC to review these prices in order to help entrepreneurs thrive in their businesses.
