Nigeria Loses N15trn Annually To Substandard Products –
The Standard Organisation of Nigeria, (SON), has said that an average of N15trillion is lost annually to substandard products.
Also, the agency called on Nigerians to appreciate and buy made-in-Nigeria products to sustain the local manufacturers which are threatened by the menace of substandard products.
Speaking at a one-day Stakeholders’ Sensitisation Workshop/Mandatory Assessment Conformity Assessment Programme, MANCAP, Certification presentation with the theme: “Zero Tolerance for Sub-Standard Products”, chief executive/lead consultant Pearlcee Consult Limited, Mrs. Chinyere Egwuonu, said that the country has groaned under the yoke of fake and sub standard products, describing it as a threat to the economy which is also affecting the industrial revolution plan.
She said that the reasons for proliferation of substandard products in Nigeria markets are due to porous land borders that encourages the smuggling of substandard products into the country due to ineffective control; absence of SON from the ports of entry; inadequate testing facilities; among others.
Earlier, director general of SON, Mallam Farouk, had said there is a relationship between the SON and the industries, adding, “Industry is the heart of the nation and more important than any branch or agency of government because it provides employment and jobs, pay taxes and saves us from insecurity.
“While industry is the heart of the nation, SON is the heart of industries, so it would be better we work as a team.
“Industries are very important to the development and diversification of the nation’s economy and if our industry is doing well our currency will not fail.
“Sub standard product is a life and death issue to our nation and industries, the industries cannot survive substandard goods. Nigerians must wakeup and appreciate and buy made-in Nigeria products
“The Manufacturers Association of Nigeria, is doing a great job but must pull its weight to ensure we don’t open our door to importation of sub standard goods.”