Business
Manufacturer Advises Nigerians On Locally Made Goods
Worried by the
persisting preference for foreign goods among many Nigerians, especially at the expense of home-made goods, a manufacturer in Port Harcourt, Mr Ben Omordu, has urged Nigerians to develop interest in locally manufactured goods.
Omordu who was speaking with The Tide in Port Harcourt, stated that time has come for those who usually patronise foreign goods to have a re-think, and understand that they are helping the economies of other countries to grow, especially in the area of employment.
He said, “there is no way we can have sustainable development if we don’t have a good policy or positive attitude towards home-made products, and this has to be in the minds of our leaders”.
According to him, although some of the foreign manufacturers might have more experience than their Nigerian counterparts, but efforts are being made to enhance the competence of Nigerian producers who will also be encouraged by the patronage of their goods.
The manufacturer urged Nigerians to understand that unless they patronise Nigerian made goods, it would take the country a very long time to get to where it ought to be in terms of real development and employment generation.
Omordu, who is a member of the Manufacturers Association of Nigeria (MAN), also urged government to develop a deliberate policy of developing indigenous companies, stressing that such is being done everywhere in the world.
He emphasised the need for government to protect Nigerian industries from such influx of foreign goods, pointing out that this could be done through trade regulations to control the movement of goods into the country.
Corlins Walter
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Business
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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