Read the passage below carefully:
Established under Decree No. 15 of 1993, the National Agency for Food and Drug Administration and Control (NAFDAC) was officially mandated to regulate and control the manufacture, importation, exportation, distribution, advertisement, sale, and use of food, drugs, cosmetics, medical devices, chemicals, and packaged water in Nigeria. Prior to its creation, fake and counterfeit drugs posed a severe public health crisis across West Africa. NAFDAC operates under the federal ministry responsible for health and derives its operational authority directly from federal legislative acts. To finance its regulatory operations, NAFDAC relies primarily on federal budgetary allocations alongside fees collected from corporate registration, administrative fines, and product quality testing services. It does not rely on private foreign loans or commercial bank credit facilities to fund its statutory monitoring activities.
Statement: According to the passage, NAFDAC relies primarily on commercial bank credit facilities and private foreign loans to fund its statutory monitoring activities.
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