Business
CPC Destroys N116.5m Fake Products
The Consumer Protection Council (CPC) has destroyed fake and substandard products valued at N116.5 million.
The items included 317 cartons of syringes worth N45 million, extension wires valued at N17.5 million, and cable wires worth N42 million. Others were tobacco products valued at N7 million and consumables worth N5 million.
The Acting Director-General of CPC, Mr Emmanuel Amlai, told newsmen that the exercise was part of the agency’s effort to rid the Nigerian market of unwholesome products.
Amlai said that most of the destroyed products, which failed labeling standards and laboratory tests, were smuggled into the country.
He said the CPC had resolved to intensify its surveillance and enforcement operations in order to protect local manufacturers as well as create jobs and wealth. “`In keeping with our new policy thrust of the vigorous pursuit and protection of the rights of consumers, events of this nature will henceforth be a constant phenomenon.
“It will continue until we are able to make remarkable progress in the elimination of fake and substandard products from markets across Nigeria.’’
Amlai said that he had directed the enforcement team of the council to carry out at least two enforcement operations weekly to urgently address the hardship faced by consumers.
“This will entail among others, the removal of substandard products and services from the market and the enforcement of the rights of consumers who may have complained about a product or service to the council.
“This will lead to enhanced citizens’ empowerment, wealth creation, increased capacity utilisation, the competitiveness of genuine locally manufactured products and the growth of the Nigerian economy.
“These are in line with the push by the Federal Ministry of Trade and Investment for increased patronage of made-in-Nigeria products and the transformation agenda,’’ the acting DG added.
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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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