Business
Cosmetics Producers Cry Out Over Fake Products
Stakeholders in the cosmetics industry have cried out against what they described as unscrupulous elements who adulterate their products.
Spokesperson of the Association of Cosmetics Producers (ACP), Pinu Akan, made the outcry on the sidelines of the just-concluded Annual General Meeting and Public Lecture of the Manufacturers Association of Nigeria (MAN) in Port Harcourt, the Rivers State capital.
Akan noted that the activities of these elements in the society would one day cripple the cosmetics business in Nigeria, saying that they often alter the trade marks and design of the original product, which they had already, fixed their won fake produt and pass it on as the original to the unsuspecting public.
According to her, “these people who take our products do all manner of things, they scratch off expiry dates, steal our trademark and design and slightly alter them. To a first time user, the take product will look like the original, even a former user of the product might not notice the difference until he or she has used it.
She lamented that the activities of these fake producers adversely affect the reputation of Make-in-Nigeria goods and cost the nation huge revenue losses.
Akan also regretted that most consumers prefer foreign products, erroneouslly believing that those are better than locally manufactured products and urged the Federal Government to initiate measures that would make importation unsavory.
She used the opportunity to thank the government and people of Rivers State for the hosting of the AGM and their warm reception to the participants of that year’s MAN meeting and promised that as manufacturers they would continue to improve Made-in-Nigeria goods.
Tonye Nria-Dappa
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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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