Tax rebate panacea to production of quality goods – Manufacturers

on   /   in Business 10:11 pm   /   Comments

By Franklin Alli

Manufacturers in the country have identified tax rebate as the solution to the production of quality Made in- Nigeria goods.

The manufactures that gathered at the just ended Nigeria Quality Summit organised by Standards Organisation of Nigeria, with the theme: ‘Less Waste, Better Result- Standards Increase Efficiency,’ appealed to the federal goverment to include the incentive in their policy thrusts.

Mazi Sam Ohuabunwa, former NESG Chairman, who spoke the minds of the manufacturers, said quality goods costs money and that they have been spending so much money generating their own energy and other infrastructure.

“If the environment is so expensive, then you might end up producing poor quality goods. Our manufacturing sector is not competitive because of the impacts of globalisation.  To make it possible for manufacturers to produce in a competitive manner, tax rebate is the only way we can get out of this problem so that by next year, will not be shouting and saying the same things again and again,” said Ohuabunwa.

The Minister of Trade and Investment, Olusegun, Aganga, who declare the summit opened, lauded SON Director General, Dr. Joseph Odumodu, for reduction in the level of substandard products in the country from 86 to 50 percent.

The Minister also charged investors in the manufacturing and service industry to adhere strictly to standards in production and packaging so as to further eliminate fake products out of the economy.

According to the Minister, no country is free from the threat of substandard goods; it is a global trend and, SON is commended for having worked hard to reduce the prevalence of substandard products from 85 percent to 50 percent.

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