Economic Management Team order agencies to stop fake products
The federal government has directed regulatory agencies in the country to work quickly to address the menace of sub-standard products in the country.
Noting that sub-standard products whether manufactured locally or imported could be detrimental to consumers, the Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, who spoke to journalists after the meeting said the team took presentation from three agencies to address the detrimental effect of sub-standard products and therefore concluded on stamping out the menace.
President Jonathan and the Economic Management Team met for over eight hours to discuss how to support the Standard Organization of Nigeria (SON) in the enforcement of set-down regulations in the control of substandard products.
Dr Okonjo-Iweala, also noted that the government’s decision is about how to protect local manufacturers from unhealthy competition with those who import inferior products.
Commending the National Agency for Food Drug Administration and Control (NAFDAC), the Finance Minister noted that the agency has brought down the prevalence of fake drugs down to 6 per cent from the 16.7 per cent it stood in the past.
In his address, the governor of Adamawa state, Mr Murtala Nyako, said the team was satisfied with the presentations made by the regulatory agencies and suggestions were offered to them to improve on their activities.
Also speaking, the governor of Anambra state, Mr Peter Obi said curtailing sub-standard products and dumping of goods into the country would help in growing the local industries.
The 24 man Economic Management Team was inaugurated by the president in 2011 to generate programmes and policies aimed at achieving government’s transformation agenda.