Business
Minister Tasks Manufacturers On Quality Products
The Minister of Information, Mr Labaran Maku, has called on local manufacturers to improve the quality of their products to boost patronage.
Maku made the call in Abuja at a forum organised by the Federal Ministry of Information to encourage the patronage of ‘Made-in-Nigeria’ products.
The event was organised by the ministry in collaboration with some local manufacturers.
The minister said that improving the quality of locally made products would not only induce patronage by Nigerians but would also impact on the local economy.
According Maku, if we patronise locally made goods, our economy will grow, our factories will boom and the employment rate will increase as there will be more jobs.
Maku decried the huge trade deficit between Nigeria and producers of finished products, due to over reliance on imported products by Nigerians.
He said that many Nigerians were providing market for foreign goods, developing their industries at the expense of the nation’s local industries.
He admonished Nigerians to grow the economy through increase patronage of local goods and support for indigenous manufacturers.
Maku, however, advised the local manufacturers not to cut corners, noting that their product was their identity and would be the only way to win the confidence of the local consumers.
In her remarks, Mrs Kehinde Ajoni, the Permanent Secretary, Ministry of Information, cautioned Nigerians on the implication of low patronage, saying that the country could become a “dumping ground.’’
“Most of our locally made good are comparable in quality to the best in the world. If we don’t patronise them as citizens of this country, our country will be turned into a dumping ground for low quality goods,’’ she said.
She said that low patronage had compelled local industries to operate below their installed capacity while some had been closed, sending their workers to an already saturated labour market.
Mrs Sarah Adetugbobo, a local entrepreneur, said that locally produced goods had advanced in quality and packaging to meet the required standard worldwide.
“We local manufacturers have gone very far in rebranding our products, in developing made-in-Nigeria goods so much that we are now accepted in the global market.
“We have improved our packaging and our presentation; we have improved in all aspects so that we meet the needs of our customers,’’ she said.
She urged Nigerians to buy home made products for use and as gifts to their families and friends during the season of Christmas.
The high point of the event was the inspection of various stands by the minister of information and other dignitaries at the occasion.
There was also a parade of some homemade fabrics by some models and designers from across the country.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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