Business
SON Seals Warehouse Over Substandard Goods
The Standard Organisation of Nigeria (SON) on Saturday sealed up the warehouse of a Chinese firm, “Three Friends International”, over low quality aluminium coils. Mr Bede Obayi, the Head of Inspectorate and Compliance of the organisation, led a task force on an enforcement exercise to the aluminium coil warehouses in Lagos.
Obayi said that the company stocked aluminium which quality was below the Nigerian Industrial Standard (NIS) minimum specification of 0.4 millimetres. Obayi said that SON was determined to rid the country of substandard products.
He explained that the team was on routine inspection to ensure that the company complied with the NIS minimum requirement for aluminium roofing sheets.
The Tide source reports that the minimum standard for aluminium sheet is NIS 487 and 486.
Obayi said that the company used quality plain coil of about four layers to cover the low gauge coated coils.
He noted that some unscrupulous importers indulged in such sharp practice to evade payment of complete duty.
“The duty on colour coated aluminium coil is 20 per cent while plain coil is five per cent. “We must ensure that what the consumers want is commensurate with the value of products they are getting so that they are not cheated.’’
He advised that importers and dealers should sell the right products at the right quantity and quality. “Your 0.50 mm, should be 0.55 mm. Anybody who wants to buy aluminium roofing sheet should go to the right source with expertise for standard measure,” he said.
He stressed that SON would confiscate any roofing sheet that fell below 0.4 millimetres. He appealed to Nigerians to give relevant information on any company or individuals involved in illicit businesses. Reports say that the team also visited BOZAC Continental, a leading importer of aluminium coils and expressed satisfaction with the quality of coils in its warehouse. Obayi commended BOZAC for meeting the minimum requirement for aluminium roofing sheets in the country. “We have inspected more than 500 aluminium coils in the factory and took random samples. “We are impressed with the standards; the company met the minimum requirements,’’ he said.
Mr Okechukwu Anolue, the Director of BOZAC, pledged the company’s willingness to cooperate with the SON in the task of ensuring standard products in 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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