Business

Compliance to standards will make Nigerian products globally competitive – SON

Published

2 years ago

July 13, 2022

The Standards Organisation of Nigeria (SON) has said locally produced goods must adhere strictly to standards to be competitive globally.

The Director General of SON, Malam Farouk Salim, stated this at the flagging off of a campaign tagged “Standardisation; Panacea for economic growth” in Enugu. (When?).

The SON boss said that adhering strictly to standardisation and quality assurance would make Nigerian products and services more acceptable at the international market.

Salim, represented by the SON Director South-East Operations, Mr Fred Akingbesote, said when all products and services conformed to standards, the country and her people would benefit tremendously from it.

He explained that there was standard for every product or service, adding that upholding standardisation even in service industry of hospitality, tourism and hotel would create international markets and patronage for such services.

The SON boss said standardisation would also lead to cost reduction, less effort on production, strengthen brands and make it convenient and easy for customers to recognise and pick quality products and services.

“If you see any product with SONCAP certification logo, rest assured that you have got a product with quality and satisfaction guaranteed.

“It provides a company with a competitive edge in the market. “Manufacturers and service providers need to ensure that their products and services meet the right specifications and deliver on their customers’ expectations.

“When a company assesses its products and services in accordance with relevant standards, this helps the company to adapt to the latest market trends regarding quality.

“And avoid the costs related to product returns, buyer complaints, and loss of goodwill in local, regional, and international markets,” the SON DG said.

Earlier, the Senior Special Assistant (SSA) to the SON DG, Chief Duru Emeka, who doubles as coordinator of the sensitisation, said it was part of the agency efforts to take culture of standardisation to the grassroots.

“Once the people in rural areas imbibed standardisation as a way of life, the fight against influx of substandard products is almost won.

“We need collaborative efforts to tackle the menace,” he said.

Duru said that Nigerian products were produced in line with international best practices and enjoy global competitiveness in line with the organisation’s quality infrastructure strategy under the able leadership of Mallam Farouk Salim.

“This will reduce the rejection of some of our products at export market, increase industrialisation and wealth creation,” Duru said

Duru subsequently urged the participants to consider the sensitisation workshop as an opportunity to broaden their scope saying, Enugu is the first to benefit from this particular sensitisation series.

He charged stakeholders to remain committed and focused on ensuring standardisation at all times.

The stakeholders in the manufacturing, consumption, service and allied businesses commended SON for the workshop.

The stakeholders also urged the organisation to extend its services to the grassroots.

They were of the view that once the message of standardisation is achieved even at the local communities, it would in turn have a positive socio-economic effect on the country in general.

Permanent Secretary, Enugu State Ministry of Commerce and Industry, Dr Godwin Anigbo, urged SON to extend its services to the grassroots by creating more awareness on standardisation of products and services.

“We need robust engagement with the people at the grassroots in the local areas to enable them know how they can attain and maintain internationally acceptable standard for any endeavour they engage in.

“Once majority of our local people start doing the right things and getting it right; our products and services will be the best internationally and the country will be better for it,” Anigbo said.

Mr Felix Odoh, Deputy Director of National Orientation Agency (NOA) in Enugu State, said that SON could leverage the spread of NOA officials scattered in the 774 council areas to reach Nigerians even in their localities.

“This sensitisation and enlightenment should go beyond here and get more Nigerians, especially the people at the grassroots to know the standard for all they produce at their localities,” Odoh said.

A consumer, Mrs Vivian Offor, said that the sensitisation would make more meaning if those at the local areas, whose extract raw materials add value to them could achieve quality standardisation.

“Something as simple as palm oil should be produced to standard with good packing to ensure better value and more gain for the ordinary Nigerians that engage in such endeavours,” Offor said.

Managing Director of Enugu State Investment Development Authority, Dr Sam Ogbu-Nwobodo, had earlier lauded SON for its consistence on its engagement of Nigerians to do the right thing and reposition the country’s economy.

“The issue of standardisation is important and it will be helpful to everybody and we must key into it.

”This is the only way to ensure we grow our economy and ensure conformity of our products and services,” Ogbu-Nwobodo said.

An Enugu-based manufacturer, Sir Eric Chime, noted that manufacturers and SON were both partners in progress, adding that SON had continued to ensure Nigerian products met international standard and acceptability.

“Apart from meeting international conformity and acceptability, standardisation also help the consumer not to be short-changed and quality guaranteed at all time.

“Standardisation also leads to better profit and international market opening for the manufactured products,” said Chime, who is the Chief Executive Officer of RICO Group of Companies manufacturers of petro-chemical products, said.

Mrs Ijeoma Ezeazor, representative of the President, Manufacturers Association of Nigeria (MAN), Ahmed Mansur and Chairman, Anambra, Ebonyi and Enugu States of MAN, made a presentation on “Expanding Products Market Share via Standards”.

She urged the Federal Government to support in the fight against substandard products.

She noted that the menace was detrimental to the government efforts to industrial growth.

“ Our products can’t compete favorably with the low cheap products from some countries.

“We are in partnership with SON to address the problem,” she said.

Other SON officials also made presentations on MANCAP and Certification; SONCAP and Registration as well as Import and Export Requirements and “Driving Industrialisation with Quality Products”.

The sensitisation also witnessed question and answer sessions as well as goodwill messages from the Nigeria Immigration Service; National Drug Law Enforcement Agency and Nigeria Security and Civil Defense Corps among others.

Business

NCC moves to boost internet speed with 6GHz spectrum

Published

4 hours ago

September 19, 2024

Trends Admin

NCC-Nigerian-Communications-Commission

NCC moves to boost internet speed with 6GHz spectrum

The Nigerian Communications Commission (NCC) on Thursday said it has begun moves to harness 6GHz spectrum for improved internet speed in Nigeria.

The Executive Vice Chairman of the Commission, Dr. Aminu Maida, disclosed this during a Stakeholders’ Consultative Forum on Emerging Technologies in Lagos.

The 6 GHz spectrum is a band of radio frequencies that offers several benefits for wireless communication, including faster data rates and transmission speeds than previous bands.

According to the EVC, deploying this higher spectrum became necessary as the current 5GHz and 2.4GHz bands are facing capacity constraints.

Growing demands for speed

Maida, who was represented by the Executive Commissioner of Technical Services at NCC, Abraham Oshadami, said the move would address the growing demand for high-speed internet.

He added that Nigeria would be joining the league of countries already utilizing part of the 6GHz band for Wi-Fi -6 applications.

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“The 6GHz band, spanning from 5925 MHz to 7125 MHz, offers a substantial increase in available spectrum, which is crucial for supporting the growing demand for high-speed internet and advanced applications.

“Wi-Fi plays a crucial role in the distribution of fixed broadband connectivity in homes, offices, and various other environments.

“The vast majority of home internet traffic is connected to the end-user through Wi-Fi.

“In enterprise settings, Wi-Fi is essential for handling large amounts of data and simultaneously connecting large numbers of devices with improved reliability, higher data throughput and lower latencies,” Maida said.

Overcrowded airwaves

Similarly, the Head, of Spectrum Administration at the NCC, Atiku Lawal, said that the overcrowded airwaves were currently limiting the potential of Wi-Fi in the 2.4GHz and 5GHz.

Lawal said that it was not a surprise that more than seventy countries had already acted, or were considering acting on opening the 6GHz band for unlicensed Wi-Fi use.

He noted that depending upon the country’s implementation plan, this decision would provide two to three times the spectrum available today.

This is also expected to result in the ability to implement 80MHz and 160 MHz channels being available for the new Wi-Fi 6 standard ideal to support digital transformation efforts and use cases like high definition video and X Reality (XR).

“The commission’s decision to open the 6GHz frequency band for unlicensed Wi-Fi use is poised to revolutionize broadband connectivity in Nigeria.

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“This move will significantly enhance internet services, providing faster and more reliable connections. With the advent of Wi-Fi 6, users can expect higher data rates and increased capacity, making it ideal for high-demand environments such as stadiums, airports and offices,” he said.

He added that by offloading devices from cellular networks to Wi-Fi 6, the NCC aims to improve overall quality of service, alleviating capacity constraints and boosting broadband penetration in Nigeria.

Operators’ request

While commending the NCC, the Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), Gbenga Adebayo, pleaded with the Federal Government to assist operators in upgrading to the new spectrum.

He said the appeal was coming because operators struggled to expand their networks.

Adebayo, who was represented by the Executive Secretary, ALTON, Gbolahan Awonuga, said the telecom operators are not isolated from the harsh financial ecosystem.

“We need money to upgrade our infrastructure and import equipment, so as for us to benefit from the 6GHz.

“Our members are struggling to expand their infrastructure. We appeal to the federal government to come to our aid.”

NCC moves to boost internet speed with 6GHz spectrum

Business

CBN reintroduces controversial cybercrime levy on all e-transactions

Published

14 hours ago

September 19, 2024

Trends Admin

CBN reintroduces controversial cybercrime levy on all e-transactions

Bank customers of several commercial banks are in a state of confusion currently following the recent release of the fiscal guidelines of the Central Bank of Nigeria (CBN) which revealed that it will continue to enforce a reduced 0.005% levy on all electronic transactions.

The bank in its Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025 document, revealed that as part of its 2024-2025 fiscal year guidelines, reaffirmed its commitment to this charge, requiring banks and other financial institutions to deduct the levy from all electronic transactions.

Scrutinizing the document, Daily Sun observed that the percentage has been reduced from 0.5% earlier announced in May 2024 to 0.005% in the new guidelines.

The apex bank noted that the levy is mandated by the Cybercrime (Prohibition, Prevention, etc.) Act of 2015 and added that the revenue generated from the levy supports a cybersecurity fund aimed at bolstering Nigeria’s defense against cyber threats, particularly in the banking sector. “The CBN shall continue to enforce the payment of the mandatory levy of 0.005% on all electronic transactions by banks and other financial institutions, in accordance with the Cybercrime (Prohibition, Prevention, etc.) Act, 2015”, it said.

The CBN’s guidelines also include provisions to ensure banks, Other Financial Institutions (OFIs), and Payment Service Providers (PSPs) comply with minimum cybersecurity standards, such as appointing Chief Information Security Officers (CISOs). These requirements stem from a 2022 risk-based cybersecurity framework that targets the growing threat of cyber attacks.

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It will be recalled that the introduction of the levy had sparked controversy, with critics arguing that it adds unnecessary costs to businesses and could fuel inflation. The Centre for the Promotion of Public Enterprise (CPPE) and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) had urged the government to cap the levy to mitigate its economic impact.

In response to these criticisms, the Federal government, through the Minister of Information, and the Federal House of Representatives called for a suspension of the levy pending further review.

Similarly, the CBN pulled the plug on the collection of levy, but the latest guidelines suggest that the CBN is determined to press forward with the levy despite the opposition.

An economic experts, who did not want his name printed, stated that the CBN could have released such guidelines as part of broader measures aimed at bolstering cybersecurity across financial institutions, especially given the rise in cyber attacks targeting the financial sector.

He however stated that it would be unusual for a central bank to impose such levies directly, as cybersecurity measures are generally handled through regulatory requirements or sector-specific compliance measures.

“I have looked at the guidelines too and I am a bit confused as to whether this has been reviewed thoroughly by the Federal Executive Council because the confusion could arise from how these guidelines were communicated or interpreted by different stakeholders like me.

Also, like I had said before, financial institutions, businesses, and perhaps even customers could be affected by this levy, depending on how it’s structured. Hence, further clarification from the CBN or the Federal Executive Council may be necessary to resolve the confusion surrounding the implementation of the levy”, he said.

CBN reintroduces controversial cybercrime levy on all e-transactions

Business

Suspend VAT, other policies impoverishing Nigerians – SMEs tell FG

Published

16 hours ago

September 19, 2024

Trends Admin

Suspend VAT, other policies impoverishing Nigerians – SMEs tell FG

The National Association of Small and Medium Scale Enterprises (NASME) and financial experts have called on the Federal Government (FG) to suspend any new policy that may further impoverish Nigerians.

The unanimous call was made by respondents in separate interviews with the News Agency of Nigeria (NAN) in Ibadan on Tuesday.

The interview focused on the need to stabilise the economy as an increase in Value Added Tax (VAT) is being anticipated from 7.5 per cent to 10 per cent.

The Oyo State chairman NASME, Prince John Karunwi, said VAT, being a consumer tax, would make prices of goods and services shoot up.

According to him, the increase will deplete consumers’ purchasing power and reduce the quantity of items they can buy.

Karunwi said that the present situation had left most Nigerians without disposable income.

“The situation now is that after transportation, maybe people have little for feeding.

“If they now discover that for some certain products, the prices will go high, the demand for products that are not essential will, definitely, drop,” said the chairman.

He said the government should be patient and allow the economy to stabilise despite its drive to increase its internally generated revenue.

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An economist, Samson Olalere, said the idea to increase VAT at this point would further deepen the hardship of the common man.

According to him, people are already grumbling about the unwarranted fuel price increase and the high cost of living, as the new minimum wage increase is grossly inadequate.

He said the government should look inward and come up with ideas that would benefit the populace and reduce the hunger of common Nigerians.

“I say no to the increase in VAT. It is an abuse of the sensitivity of Nigerians,” said the economist.

Olalere wondered why the common Nigerian would be asked to sacrifice, tighten his belt, and keep faith in the government without enough consideration for him from the same government.

A financial expert, Sola Famakinwa, corroborated the opinions of others that an increase in VAT would amount to an increase in the prices of goods and services.

“There is no way the manufacturing industries would bear the cost of increased VAT; it would be passed down to the consumers.

“If what we hear about the proposed VAT increment is true, I do not think Nigerians can bear to have more burden added to their shoulders now,” Famakinwa said.

He noted that the government needed to reduce the economic hardship by introducing subsidies for necessities that directly affect Nigerians, considering that not all are government workers.

Recall that VAT was increased from 5 per cent to 7.5 per cent on Feb. 1, 2020.

However, the Presidential Committee on Fiscal Policy and Tax Reforms recently recommended an increase to 10 per cent from 2025, and to 15 per cent by 2027 or 2030.