By Chris Ochayi
ABUJA -Â To ensure that influx of substandard foreign products into the nationâ€™s market is effectively controlled, the Federal Government has been asked to urgently step up measures that would strengthen policy development and implementing mechanism to checkmate the deluge of counterfeits products in the country.
The Chief Coordinator, Institute of Chartered Economists of Nigeria (South-South), Mr. Friday Udoh who made the remarks in Abuja during the 11th Advancement and Continuous Education Programme, expressed concern that the country is eroded with counterfeits products.
Mr. Udoh in his paper entitled, â€œThe role of entrepreneur in socio infrastructure development network in Nigeriaâ€ presented at the forum organised by the Institute of Chartered Economists of Nigeria (ICEN), said aside epileptic power supply, the influx of foreign products are threatening the existence of manufacturing sector of the economy.
According to him, â€œFederal Government must consider as a matter of urgency formulating policy on â€˜trade defence mechanismâ€™ to temporary check flooding of the Nigerian market with foreign products, thus aiming at protecting manufacturing sector from collapseâ€.
He said, â€œthe government must strengthen the policy development and implementing mechanism, especially as Standard Organisation of Nigeria (SON) has failed in checkmating counterfeits products in our markets, as equally observed recently, the continuous eroding of NAFDAC in Nigeria counterfeit drugs-warâ€.