Business
SON Tracks Fake Goods To Ports
Permanent Secretary, Ministry of Defence, Amb. Danjuma Sheni, Minister of Finance, Mrs Kemi Adeosun and Head, Presidential Initiative on Continuous Audit (PICA), Mr Mohammed Dikwa, at the PICA meeting in Abuja, yesterday.
The Standard
Organisation of Nigeria (SON) has indicated interest to return to the country’s seaports to help control the influx of substandard products to the country.
SON’s Acting Director-General, Dr Paul Angya, indicated the interest at a stakeholders’ meeting on the enforcement of the ban on used tyres in Abuja.
“The reason they gave was to be able to fast track trade at the port to cut down the turnaround time.
“But with the consequences of SON leaving the ports, with the influx of substandard products which is almost over running Nigeria those reasons that they gave at that time, may have been germane at that time, but at this time they are no longer cogent.
“Because the consequences that we are suffering far outweighs any benefit from that decision and apart from that, as we speak, the present facility available to do the job are different and improved.
“And so there is no need for anybody to hold down any container at the port because things are largely digitised and computerised.
“So it’s time for the government to take SON back to the ports, so that it can do the job of policing the quality of products that are coming into Nigeria.
“So what we want the government to do is to reverse that decision of the last government and to call SON back to the ports so that SON can check the influx of substandard products into Nigeria.’’
Angya said that the most strategic place for SON to effectively prevent the inflow of substandard products was at the sea ports.
According to him, more than 90 per cent of products come through the ports.
According to him, the last administration through the Minister of Finance directed SON to leave the sea ports even though the law setting it up allows it to operate there.
Angya said there were quite a number of substandard products in almost everything being imported adding that more than 70 per cent of the products into the country did not meet SON’s specifications.
FRSC Corps Marshal Dr Boboye Oyeyemi, explained that the meeting was to fashion ways on the stakeholders decision reached at a meeting on the campaign on the use of tyres.
Oyeyemi said that the meeting agreed on a joint enforcement involving SON, FRSC, Customs Service, Department of State Service and the National Automobile Development Council.
He said that there would be training for all transport officers in Ministries, Departments and Agencies of government in June, on the detection of fake and substandard tyres.
“FRSC will sustain its enforcement on the highway and with the support received from NURTW, no vehicle with expired or substandard tyres would be allowed to load at motor parks.’’
“From next week top FRSC officers will be on the highway to check these things, immediately after that, I will lead a team to impound any vehicle with substandard tyres.’’
Oyeyemi said that impounded vehicles would be allowed to buy original tyres while the number of the vehicle would be engraved on the tyres before they are released.
He corroborated SON’s agitation to return to the ports and appealed to government to consider the appeal.
Director-General, National Automobile Design and Development CouncilMr Aminu Jamal, said that the council was working hard to ensure that there were standards for tyres.
Jamal said that training was ongoing to train vulcanizers nationwide on the use of tyres.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.