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TIj!>ullCBusiN £$S 119

Nigerian Tribune

Thursday ,

30 August , 20121

FG gives CPC, SON ultimatum on substandard goods GboLa Suba1t', AbuJa


HE Fed eral Gover llm l ~ n t dl r ectl~d

ha s the Con-

sumer ProtecUon Council [C PC I and lhe Standard Organisauon of NIgeria [SON) to reduce the presen ce of fake and

substanda rd goods In the markel.. Speaking at the launc h of Products a nd Servi ces Listing and

-From Ahmed Ku ru, Managing Dlrector/Ch lfif Exec u tlue Officer , Ente rprise Bank Lim It ed: Mrs L <JlIlsa Ola loku. a R Execu Hue Director of the baRk; Sir George llfughiRamba Akomas, a customer o Rd Ch alnnan, Geolly Farms; Mr Emeka Onwuka. E n terprise Bank's Board Ch afnnan, aRd Mrs Nn elea Onyeal f.lkpe, aRo t her Execu tive Director of t h e baRk , a t the bank·... customer fo rum, held IR Onit!:h a. Anarnbra State, recen tly. .

Agliic Ideveiopment: FG receives $105Dl grant HE Federal Govern mcnt has slgne<1 .l financing agreeme nt with the [0 lemaUonal f und for AgrlcuJlural De vclopmelli. IIFADI for dle deve lopmen t of ap1 c ulture In the collnlry . Unde r Ull~1 agreement. Nigeria wtll r ec:c1vc a grant ofS 1 0::nilllh~ ' to support the agrlcultlnal transform allon ag,:tda of th e


present adm1nlstratJo n. The agreement will enable IFAD to provide finance for the next aUt yean for specific projects that would boost the agrlculturol value c hain. ExplaInlng the stgnlflcant of the agreement. Coordinating MInister for the Economy and Mlnlster of Finance, Dr Ngozt Okonjo-Iweala, s aid the IFAD credU wouJd be lp

c reate jobs a nd boost food producUon. Or OkonJo-lwea la said -lheagr«:menlcomprtsed an IFAD credit of $74m which attracts uro interest rate and a repayment penod of 40 yean! as well as a grant ofSO.5m,The minister explained that the O'edIt was on soft tenncondltJons.nddIngthat the F'ederal Government, states and locaJ councUs

would provkle counterpart contribution to the tune 0( S3 L2mllllon. According to her. ·We are s ignIng this credit to unde rscore the Imporlance of (FAD's commitmenl to the developmen t of agriculture In thi s country and It also demonslrntes thai our relatlonshlp with IFAD Is yielding benefits. Jbe IF'AD partm:n;hlp

programme. LaSCYl~.",PI 1(' ~.t;.~t Act: NDIMRC alleges sabotage development ;,~;~~~,::,:~~~,a~nu"!.;



BusIii .

'" Cr6\t\f

ACT1NG GROUP BUSINESS EDITOR AdHvnI. Tayo layoad. kvnle@gmaILt'O m

Wl ~ rI Imple mentaUon of the stili ca rrying o n lis at S IOS.2m which corn_____ _ act. operaUons as usual and prlscs of an IFAD credit NDIMRC, In a s late- h ad a llegedly rc:fused to of 874m and a grant of IE N:g-:r Delta Ind lgeq q us Mo ve- ment Issued In WaJT1 on carry indigenous compa- SO.S. The credit Is on son te rms and the F'ede ral ment ")r Radical Monday and signed by Its nics a long. II assured the Government. states and C hange [NcJ !MRCI has PreSident. Nelly Emma; of Its co uncils will provide alleged tha . t / lce-Ch al r- Sccretary.JohnSallorand minister man and ~I l naglng DI- Public RelaUons Officer, preparednes s to fu lly counterpart contribuUon rector of NI erlan Aglp Mukoro Stanley. praised s upport her actio ns In to the tunc of$3 1.2m 011 Cc,m p _*y (NAOCI , the petroleum minister e nforcing the Nigerian "This project will be Mr Clro (f"gano, Is over her t.ranspa~ncy In Content to the lette r. implcmcntcdovcrapcrtod sabotagl i the loca l the oU Industry and en- addlng "our flndings have of Six years and there is courngcmcntoflndJgcrlous revealed that the Vlce- no doubt that It will be a conten t poll}y. Conseqll ntly . the companies. but urged Ule Chalnnan / Managlng 01- strong contributor 10 the group calle. I ,)n lhe Min- mJnister to s anctlon Aglp rector of Aglp. Mr Clro vcry Important plan for Ister elf Petroleum Re- boss o ver his a lleged Pagano Is bent on frus- agrlc sector. The IFAD sourCI!s. Mr s Dl e zanl conUnued subversion of lrnuog lhe Nigerian La- credJ.t is one of the most cal Conte nt as he has .beneficlal because there Aliso n- Mac u !ke. to call the Ntgertan Content. Acco rding to the ordered a ll hJs General are no Interest, 0.75 per him to o rd e~: lJld that Lhe Economic ;.nd Financial group. ( WO years a fte r Managers In charge of ccnt commltmenl c harge Crlme5 ':lImmlsslon President Goodluek proJects to put on hold all and 40 years repayment [EFCCI sh'J\Ild Investl- Jonathan Signed the NI- projects meant to be ex- pcrtod and so Its really a gate the acU'/fties of tbe g~rla n Content Bill Into ccuted betwee n now and very great credit for lhe company cun~"~m~l~n8.!th~'_~L~.~w".~I~h~,,,,'~.~m'l"a~n~YL'w~a~''--J2~O~1"5~·__.,-_____c"'~=!!!,,,,"Io'!..;a~<=ss~~.·:...-__


cities by n ext year: he said. Reiterating gove rnme n t's p lea to Nigerians to patroni se Made In Nigeria produ c ts In order to grow the loeallnduslrles and c r eate jobs locall y, Aganga pledged gove rnme nt's determi nation to revive the petrochemical and mining Industries. Nigerian cons umers. he said. had t h e right to co n sume quality produ c ts whi c h th ey purchase with their mone y. ebarglng SON and C PC (0 wipe out fake products from the ma.rket. Speaking earlier. CPC boss. Mrs Umenyl said ProSe rve -Is designed to Introduce a listing regime that would requ ire all genuine manufacturers and certllled servi ce provldel'S In all s ectors of the Nigerian economy to enlis t their produ1!ts and services for prop.c,r monitoring by the Coun : c lLAccording to h er. ProServe was a lso In tended to be used as a strong Instrumenl towards ensuring Ute eerUfItaUon of all products and services by the n a1I0 nai standards body and s«:tor specific regulatol'S.

Olusegun Aganga. said h e wo uld give the two agencies Ull 2013 to reduce the presence of s ubstandard products In the marke t to at most 15 per ccnt. The minister said the move was In line with his resolve to Implement the poliCies of the Fe d eral Government. Following the ch arge by President Goodluck Jonathan thal all ministers must also s ign perfonnance conlracts with permanent secretaries and h eads of government agencies under them. Mr Aganga revealed that h e would s ta rt by s igning the contracts with Olrtttors- General of SON and C PC. Joseph Odumodu and Mrs Ify Umenyt. res pectively. He n oted that Ule Federal Gove r nment had IdenUficd key chal lenges troubling the Investment climate. adding that MIniSter of Power. Prof Barth Nnajl, had promised the F'ederal ExccuUve Counc il (FECI tllat uninterrupted power would be resto red to the nine industrial clUes by 20 13. Jbe mlnlsterofpower. while s ig ning the p erformance contract with the president, promised to restore un~ Interrupted powersupply to the n.lne Industrial

Monitoring Programme [ProServel. o rganIsed by the CPC In Ahuja. the Minis ter of Trade and Invest ment, Mr

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Agric development: FG receives $105m grant

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