Business
Substandard Goods Worse Than Terrorism -SON DG
The Director General of the Standard Organisation of Nigeria (SON), Alhaji Farouk Salim, says the manufacturing and importation of substandard goods into the country is worse than terrorism.
Salim made the remark at a training workshop organised by the Association of Maritime Journalists of Nigeria (AMJON) in Lagos, last Thursday with the theme:”An insight into Nigeria Blue Economic project”.
Represented by the SON’s Chief Technical Officer, Mr Benedict Preake, the SON boss described the manufacturing and importation of substandard goods as a heinous crime against humanity.
He said that the organisation, as a regulatory body, relied on and appreciated the input of stakeholders in standards elaboration and enforcement as well as other activities of the organisation.
Salim called on the Nigeria Customs Service to collaborate with the agency in a bid to streamline the NICIS2 portal for effective monitoring and compliance of shippers and freight agents.
The SON boss further said that the African continent had a long way in properly harnessing the economic power of its marine and maritime industry.
According to him, “African wealth that can be generated from the ocean is conservatively valued at USS4 trillion with estimated goods and services of $2.5 trillion annually.
He explained that the Blue Economy had the potentials to create both economic growth and development in the country.
Analysing the problems hampering sustainable Blue Economy in the maritime industry, Salim said Blue Economy would require competitive and efficient use of coastline resources.
Nigeria ports and maritime facilities are currently costlier to operate and manage than ports in neighbouring countries such as Togo, Cotonou, Lome ports and Tema port in Ghana, he said.
By: Nkpemenyie Mcdominic, Lagos
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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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