Naija Foodie Update

NAIJA FOODIE UPDATES (BETWEEN FAKE AND ORIGINAL PRODUCTS, WHO RESCUES NIGERIAN CONSUMERS?)

This is horrible! The Nigeria’s economy is ravaged by substandard and
counterfeit goods is no longer news.

What is perhaps
disturbing is the
continuous influx of these fake products into the markets in the face of seeming hapless regulatory
agencies despite their efforts.

Today, for almost all items in the market, you have original and
fake products displayed side by side, mostly with impunity, and the
consumers have to decide, depending on their choice and
purse size.

Unfortunately so, the prevalence of these counterfeit products is one of the biggest challenges facing marketing and brands development in the country as the counterfeit “industry” continues to stifle
creativity and entrepreneurial development.

The tragedy remains however that there is hardly any product
in the Nigerian market that is not either faked or its quality sub-standard
when compared with the original, especially for every fast selling genuine product- they are either pirated or reproduced almost
similar to the original without regards
for standards and specifications.

Nigeria seems to have accepted to be a dumping ground for all kinds of goods from different parts of the world.
From toothpaste to vehicle spare parts; computers and ICT
products to building materials; cars to
hand kerchiefs and towels; keys and padlocks to foods and drugs among others, and even expertise, and this is telling bad on the economy and
the consumers.

Ify Umenyi captured the unfortunate situation in an interview she granted the press during her years as the Director General of the Consumer Protection Council
(CPC) saying “Apart from fostering the
depletion of the resources of the
economy of the nation, it constitutes a drain on the purse
of consumers and it also impoverishes
them” Also the Director General,
Standards Organization of Nigeria (SON),
Mr. Joseph Odumodu,
during the 2014 anti-counterfeit conference hosted by Hewlett-Packard in
Abuja which aimed at
highlighting the negative impact ofcounterfeit and fake products on the
economy, disclosed that over 40 percent of goods in Nigeria are substandard and counterfeit, resulting in the death of scores of Nigerians, loss of over N100 billion to the nation’s economy, and millions of job
losses, among other devastating effects, in the last 20 years”.
For any serious country, these
disclosures and more are disturbing and
needs a decisive action to reverse the trend, than just
statements, and urgently too.

There is no gainsaying the huge
benefits that would accrue to the country and her citizens if
deliberate steps are taken to standardize
products.
There was a time
Nigeria had a very strong textile industry, but unfortunately, it opened its borders and allowed sub-
standard textile materials to flood its
market from different parts of
the world especially Asia.
The immediate impact of that was
the closure of the local textile companies because they couldn’t cope with the pressure from competition.
This situation applies to many industries
that have closed shop due to counterfeit products.

Besides, there have been incidences of collapse buildings
due to substandard products; reported
incidences of frequent fire outbreak in homes, industries and offices
because of fake wires and other electrical materials.

What about fake drugs which ravaged the country at some point, and still stealthily ravaging, killing many unaware
citizens. What about the auto parts industry where used parts are preferred to new ones because
the mechanics (depending on
the ones you use) can’t trust the new parts?

The list is endless. And the Nigerian
consumers hardly get value for their money as a result and are
left to bear this brunt.
For Full and Complete Details visit this link below.

http://businessdayonline.com/2015/07/between-fake-and-original-products-who-rescues-nigerian-consumers/#.VavS2V2t-o8

Advertisements

comment on this post

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s