NG Clearing Limited, Acquires Clearing,   Technology For Its Operations

Tapas Das, NG Clearing
Tapas Das, NG Clearing
Nigeria’s premier central counterparty, NG Clearing Limited, has announced that it has signed an agreement with a leading software development firm, Mantissa Infotech Private Limited, for the development, implementation and maintenance of bespoke clearing
and settlement technology for its operations.

The announcement follows the receipt of an approval in principle from the Securities and Exchange Commission (SEC) in September 2020, to clear and settle exchange traded derivatives instruments,

Speaking on the development, the company’s Managing Director & Chief Executive Officer, Mr. Tapas Das, said: “We are very excited about this deal, as the deployment of the technology platform puts us in a position to commence operations as soon as we receive final approval from the SEC. The technology platform will support the clearing and settlement ofderivative instruments across various asset classes such as futures and options contracts on
indices, equity shares, commodities, currency, rates etc.
“Mantissa’s vast experience and end-to-end capability in providing a suite of bespoke technology solutions to leading exchanges and clearing houses in India comes in very handy,having provided both the trading and the clearing & settlement software for 14 years to the
National Multi-Commodity Exchange of India Limited (NMCEIL), which was the first national level commodity exchange in India, until NMCEIL was merged with Indian Commodity Exchange Limited (ICEX) in 2018.
“Mantissa’s broad experience from providing its technology service to various market infrastructure, including NMCEIL, Metropolitan Stock Exchange of India Limited (MSE), Metropolitan Clearing Corporation of India Limited (MCCIL) and ICEX, has been beneficial in
the development of the state of the art technology and we expect that our stakeholders will find the technology very versatile and useful.”

NG Clearing Limited is promoted by The Nigerian Stock Exchange and Central Securities Clearing System Plc along with key stakeholders like the Nigeria Sovereign Investment Authority, Access Bank Plc, Consonance Kuramo Special Opportunities, Coronation Merchant
Bank Limited, Greenwich Merchant Bank Limited, Union Bank of Nigeria Plc, United Bank for Africa and Association of Securities Dealing Houses in Nigeria.

Apapa Gridlock: Stakeholders Want NSC, NPA To Gear-up

 

Chairman, TinCan Port Chapter, NCMCLA, tAlhaji Isa kazeem, Special Guest of Honour, flanked by Secretary, NCMDCLA and President MAJAN, Ray Ugochukwu :
Chairman, TinCan Port Chapter, NCMCLA, tAlhaji Isa kazeem, Special Guest of Honour, flanked by Secretary, NCMDCLA and President MAJAN, Ray Ugochukwu :
Government agencies in the maritime sector such as the Nigeria Shippers’ Council (NSC) and the Nigerian Ports Authority (NPA) must gear-up and wake up to their responsibilities if the problem of Apapa gridlock must be solved.

Stakeholders at the Powerful Pen Media special Congress held in Lagos who insisted that one of the major causes of the Apapa gridlock is the absence of holding bay for empty containers maintained that unless this is addressed, the solution may be farfetched.

Tincan chapter Chairman of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Alh. Kazeem Isa Adua while insisting that the difficulty of access and exit at the ports is one of the reasons why Nigerian ports are the most expensive in the subregion and contribute about 35 percent of the cost of operations, said ” NPA and Shippers Council who are the Federal Government watchdog must monitor the activities of terminal operators in the area to ensure the terminal operators have dumping bays or holding bays as well as put up truck call-up mechanism to ease free flow of traffic within the ports.”

Managing Director, Bontex Nigeria Ltd., Chief Boniface Okoye, in the same vein, noted that the shipping companies are not regulated and that the terminal operators do not listen to anybody and exploit Nigerians without being checked, through container deposits that are often not refunded, reckless demurrage charges and similar other nefarious practices.
Chief Okoye equally faulted the consessioning of the nation’s ports to those who he said lacked the capacity to provide infrastructures or effectively manage the nations ports.
He insisted that the same people who own the shipping companies are the ones who influence policies as well as collude with traffic managers to frustrate agents’ efforts.”

The shipping companies he further noted are not checked, hence they operate with reckless abandon.

He criticised the NSC for failing to regulate what the shippers pay to the shipping companies, but rather approve whatever the shipping companies charge because of pecuniary interest.

Also in an Earlier address Chairman of National Association of Road Transport owners (NARTO), Alh. Abdulahi Inua who called on the relevant authorities to mandate the shipping companies to provide holding bays for empty containers expressed the view that close to 80 per cent the trucks blocking the roads are carrying empty containers.

Gov. Obiano Applauds AYAYA’s Contributions To Ananbra Socio-Economic Dev.

DAZAA DAZAA with one of the scholarship winners and Cornell Anazoba Ekwelum
DAZAA DAZAA with one of the scholarship winners and Cornell Anazoba Ekwelum
The Anambra State Governor,Willie Obiano has applauded the contributions of  AYAYA Carnival Ufuma,Orumba South LGA  for the socio-economic and cultural improvement of the state in the last ten years,saying that the carnival has helped to better the cultural capacity of the people with its entertainment value.

He called on other An amara roans to emulate the achievements of the organisers of the carnival as a way of leaving their foot-marks on the sands of time,maintaining that Anambra needs private contributions to uplift its economy as government can not do everything.

The Governor who was represented by Hon Ifenyinwa Obinabo, the Special Adviser to the Governor  on Public Orientation and Special Duties,stated that his government would continue to do all within its powers to encourage Anambra youths and others in its effort to better the situation on ground in the state. 

Other dignitaries that graced the occasion include the  SA to Governor,Hon Gozie Orji..Diaspora Lord on Culture,majority leader of the House of Assembly Anambra State, Hon, Emeka Aforka and his crew ,Cornell Anazoba Ekwelum, and some Nollywood actors and actresses.

According to a statement from the organisers “AYAYA Carnival Ufuma started in 2010, Powered by Dazaa International. We have witnessed 5 different venues since begining, but in the same town. We have tried AYAYA Carnival night party three times since we began, 2019 marked a new beginning of our Carnival night party .

“We have completed a comprehensive review and studies of showbusines.2020 AYAYA Carnival Ufuma was the beginning of our Talent Hunt Competition on sports, educational activities and international cultural exchange with 9 winners: From Primary and Secondary school students. They are getting 1 year educational Sponsorship (school fees)

“We are Proudly starting an online TV on our Talent Hunt  competition called “SELL Yourself “.We are to promote our Cultures, Traditions and Customs through this programmes 

“Finally, we have started KUDAMM Project, which is our permanent office/headquarters. KUDAMM Project is an International Events,Youths and Cultural Centre with multiple accommodations. We are thankful  for the wonderful support and understandings”from all manner of people over the last 10 years” We remain culturally yours”. 

NNPC Announces $120.49m Crude Oil Receipt in September

The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020.

A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated that the figure is contained in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR).
The $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August 2020.
The report showed that out of the figure, proceeds from crude oil amounted to $85.40 million while gas and miscellaneous receipts stood at $25.31 million and $9.78 million respectively.
The September 2020 MFOR also indicated a trading surplus of ₦28.38 billion slightly lower than the ₦29.60 billion surplus in August 2020.
The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC) which recorded zero crude oil lifting from the Okono Okpoho facility during the month due to ongoing repairs.
However, other NNPC subsidiaries namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail posted impressive trading results recording 268%, 234%, 21%, 422% and 41% trading surpluses respectively over their previous month’s performance.
In the gas sector, a total of 223.82billion cubic feet (bcf) of natural gas was produced in the month under review translating to an average daily production of 7,460.80million standard cubic feet per day (mmscfd).
For the period September 2019 to September 2020, a total of 3,039.05bcf of gas was produced representing an average daily production of 7,730.35mmscfd during the period. Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.10%, 20.29% and 10.61% respectively to the total national gas production.
Out of the 221.91bcf of gas supplied in September 2020, a total of 140.45bcf was commercialized, consisting of 36.37bcf and 104.08bcf for the domestic and export markets respectively.
This translates to a total supply of 1,212.17mmscfd of gas to the domestic market and 3,469.45mmscfd of gas supplied to the export market for the month.
This implies that 63.29% of the average daily gas produced was commercialized while the balance of 36.71% was re-injected, used as upstream fuel gas or flared. Gas flare rate was 6.66% for the month under review (i.e. 492.93mmscfd compared with average gas flare rate of 5.84% i.e. 439.90 mmscfd for the period of September 2019 to September 2020).
To ensure effective supply and distribution of Premium Motor Spirit (PMS) across the country, a total of 0.59bn litres of PMS translating to 19.59mn liters/day was supplied for the month in the downstream sector.
During the period under review, 21 pipeline points were vandalized representing about 43% decrease from the 37 points recorded in August 2020.
Of this figure, Mosimi Area accounted for 90% of the vandalized points, while Port Harcourt Area accounted for the remaining 10%. NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace.
The 62nd edition of the MFOR highlights NNPC’s activities for the period of September 2019 to September 2020.
In line with the Corporation’s commitment of becoming more accountable, transparent and driven by performance excellence, the Corporation has continued to sustain effective communication with stakeholders through the MFOR and other reports published on its website and in national dailies.

FMDQ Admits Total Nigeria PLC, Valency Agro Nig. Ltd. And Mixta Real  Estate PLC CPs On 2021 Activity kick Off

FMDQ- logo
FMDQ- logo
FMDQ Securities Exchange Limited has Kicked Off activities for year 2021 with the Admission of Total Nigeria PLC, Valency Agro Nig. Ltd. and Mixta Real Estate PLC Commercial Papers (CPs).new year 2021 arrived This move is in line with renewed hopes for the continued development of the Nigerian financial markets as corporates commence with planning towards the achievement of their strategic goals and objectives,
The Nigerian Commercial Paper (“CP”) market, even during the ‘high-points’ of the pandemic last year, continued to provide succour to both private and public institutions and as we begin
the new year. FMDQ Securities Exchange Limited has through innovative
evolution continued to avail its credible and efficient platform as well as tailor its Listings and Quotations
services to suit the needs of issuers and its Registeration Members (sponsors of the issue on FMDQ Exchange).

Following the due diligence process, the Exchange, through its Board Listings and Markets Committee approved the quotation of Total Nigeria PLC ₦2.25 billion Series 1 and ₦12.75 billion Series 2 Commercial Papers under its ₦30.00 billion CP Issuance Programme and the Mixta Real Estate PLC ₦2.00 billion Series 32 Commercial Paper under its ₦20.00 billion CP Issuance Programme, as well as the registration of the Valency Agro Nigeria Limited ₦20.00 billion Commercial Paper Programme, on its platform.

The debut issuance of Total Nigeria PLC (Total Nigeria)’s CP, following a volatile period for the oil and gas
industry as disrupted by the COVID-19 pandemic demonstrates innovation and confidence in the Nigerian debt capital market (DCM) towards supporting the vibrance of this sector and in turn the reactivation of the Nigerian economy. The issue attracted significant demand from a wide range of investors- resulting in a subscription level of over 4 times the initial issue size – a demonstration of investor confidence in the company.
Commenting on the quotation of the Issue, the Managing Director of Total Nigeria, Mr. Imrane Barry,explained that “the Programme was set up to enable the company further broaden its sources of capital by accessing funding from the Nigerian debt capital markets, while also reducing its overall funding costs”.
He thanked investors for supporting the company’s debut Issue and commended the financial advisers, Stanbic IBTC Capital Limited and FBNQuest Merchant Bank Limited, for ensuring the success of the Issue despite the challenging environment. Also commenting on the quotation, Tokunbo Aturamu, Head of Debt Capital Markets, Stanbic IBTC Capital expressed his delight that Total Nigeria has joined the growing list of blue-chip corporates who have embraced CP issuances in the Nigerian debt capital markets as a means of funding their working capital requirements. He also thanked the Board and Management of Total Nigeria for the opportunity given to Stanbic IBTC Capital to act as Sole Arranger, as well as Joint Dealer alongside FBNQuest Merchant Bank, to the ₦15.00 billion debut CP issuance under the Programme.
In the same vein., with double-digit inflation rates and soaring food prices compounded by the growing Nigerian population, it has become more imperative to catalyse the country’s agricultural value chain transformation in a bid to drive increased and sustainable production of agricultural products as well as foreign earnings through exports. Valency Agro Nigeria Limited (Valency Agro), is incorporated in Nigeria as a private limited liability company under Valency International Pte Limited (Valency International) – an International commodity trading house with its presence in over 15 countries – deals in the sourcing, production, and trading of Agro and consumer food products. In his remarks, the Managing Director,Valency International Pte Ltd, Mr. Sunil Dhanuka, said “We are glad for the successful registration of Valency Agro’s ₦20.00 billion CP Issuance Programme. We also commend FMDQ for the seamless process despite the COVID-19 pandemic and the various restrictions.
In line with our vision to grow within the agricultural value chain in Nigeria, Valency Agro is committed to ensure the growth of the Agriculture sector through our deep involvement in Cashew, Sesame, Cocoa and other produce. Proceeds from this CP Programme will be used towards meeting the midterm working capital requirements of the various agricultural produce and on value addition prior to export”.
The registration and quotation of these CPs on FMDQ Exchange endorse the evolution of FMDQ Holdings PLC (“FMDQ” or “FMDQ Group”) into a world-class vertically integrated financial market infrastructure group and its strategic role as a market organiser, committed to advancing the growth of the Nigerian
financial market.
FMDQ Group is unwavering in its pursuit of product and market innovation as well as stakeholder engagement, towards making the Nigerian financial market globally competitive, operationally excellent,liquid and diverse, in line with its GOLD Agenda. FMDQ continues to bring about revolutionary changes in
the Nigerian capital market through its exchange, clearing, depository and private markets subsidiaries; providing a seamless process and value-chain for market participants to commence and end their financial market transactions.

ILECCIMA Celebrates NACCIMA@60 With Grants For Micro Businesses In Ijeshaland

ILIECCIMA Awards
ILIECCIMA Awards
Ilesa Chamber of Commerce, Industry, Mines and Agriculture (ILECCIMA) is celebrating NACCIMA@60 with Charity Grants to twenty women-led, micro businesses from Ilesa East and West Local Government Areas of Osun State.

ILECCIMA is a member of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) which was established in the year 1960. ILECCIMA is an incorporated Chamber of Commerce, limited by guarantee, and committed to the economic development of its jurisdiction, through advocacy, capacity building, business development linkages, and entrepreneurship in Ijesaland, Osun State and beyond.

In commemorating the 60th Anniversary of Chambers’ Movement in Nigeria, ILECCIMA considered the empowerment of informal businesses at the base of the local economic pyramid as a means of mitigating the impact of COVID-19 and contributing to the achievement of the Sustainable Development Goals One and Five (Goal 1: Ending poverty in every ramification by 2030) and (Goal 5: Achieve gender equality and empower women and girls). Furthermore, it is one of the avenues designed by the Chamber to impact the informal sector of businesses in Ijesaland and to reach out to the lowest rung of our economic ladder.
At least 20 female owned micro food production businesses and farm produce trades such as Ogi, Eko, Mama-put food , Moin-moin, Gaari, Plantain chips, Potatoes chips, Confectionaries, Boiled rice and beans, Boiled yam and stew, Vegetable trade, Fruits trade, Palm-Oil and Soap making were selected out of the 60 applications received within a week.
A day seminar on basic business skills was organized for the awardees at Ilesa Business School. Some of the skills learnt were business goal setting, business communication skills, marketing skills, negotiation skill, financial management skills, and networking skills. The participants were also guided to apply for the Federal Government free registration of business names. Also, the beneficiaries were constituted into a Cooperative Society, while an Awards Ceremony to formally present the Grants and Certificate of Training to the beneficiaries was organized on Thursday the 12th of November 2020.
In attendance at the event were Arc Ayo Osunloye (President), Hon Sola Joshua (1st Deputy President), Mrs Oluyemisi Olukanni (2nd Deputy President), Mrs Moji Fapohunda (Asst Treasurer), Mr Demola Tejumola (PRO), Mrs Funmi Olujide (Member), Mr Femi Kazeem (Financial Secretary), and Dr Olu Olujide (Executive Secretary). Beneficiaries were enjoined to use the grants for the purpose for which it was given. The leader of the group, Mrs Riike Akinsete appreciated the support, and officially announced the name of the Cooperative Society as Fulfillment Cooperative Society. She further announced the names of members of her executive committee, Mrs Damilola Adagun (Vice President), Mrs Nifemi Akinloye (General Secretary), Mrs Oluyemi Ibukun (PRO) and Mrs Jelila Kelani (Treasurer).

96 Reputable Firms Submit Bids For NNPC  Downstream Infrastructure Rehab.

NNPC
NNPC
Buoyed up by the culture of Transparency, Accountability and Performance Excellence (TAPE) of the current NNPC management, no fewer than (96) prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, Operate and Transfer (BOT) financing model.
This was disclosed at a virtual public bid opening exercise which held at the NNPC Towers, Abuja for the pre-qualification of companies for the contract.
A press statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, explained that the public opening of the bids for the contract was in keeping with the NNPC Management’s commitment to transparency and accountability in all its processes and transactions.
Speaking at the event, the Managing Director of the Nigerian Pipelines and Storage Company (NPSC), Mrs. Ada Oyetunde, disclosed that the exercise was in conformity with the mandate of the Federal Government to prioritise the rehabilitation of critical downstream infrastructure across the country.
She listed the facilities that would be rehabilitated by successful bidders to include critical pipelines for crude oil supply to the refineries and evacuation of refined products, depots, and terminals, stressing that the objective is to get them ready to support the refineries when they become operational after their rehabilitation.
“An open tender for pre-qualification of interested companies was published in August 2020 in the national dailies, for the rehabilitation of NNPC downstream critical pipelines and associated depots and terminal infrastructure through Finance BOT to cover the 4 lots namely: Lot 1: Port Harcourt Refinery related infrastructure, Lot 2: Warri Refinery related infrastructure, Lot 3: Kaduna Refinery related infrastructure and Lot 4: System 2B related infrastructure,” Mrs. Oyetunde stated.
The NPSC boss said that the BOT arrangement would provide a reliable pipeline network and automated storage facilities for effective crude feed, product storage and evacuation from the nation’s refineries post-revamp through an open access model and charge market reflective prices and tariffs to recover the investment.
Earlier, the Group General Manager, Supply Chain Management, Mrs. Aisha Katagum, commended the Infrastructure Concession Regulatory Commission (ICRC), and the Bureau of Public Procurement (BPP) for providing guidance for the project and assured the bidding firms of a fair, equitable and transparent selection process.
On hand to observe proceedings at the public bid opening exercise were representatives of the ICRC, BPP, the Nigeria Extractive Industries Transparency Initiative (NEITI) and Civil Liberties Organisations (CLOs).
Highpoint of the event was the display of the 96 companies that submitted bids for the rehabilitation projects.

Customs FOU Zone ‘A’ Recovers N1.8bn Revenue In  Year 2020

Acting Controller YAHAYA
Acting Controller YAHAYA
A total of N1.8 billion has been recovered by the Federal Operations Unit Zone ‘A’, Lagos of the Nigeria Customs Service between January and December 2020.

The unit which statutorily compliments the Area Commands through interventions as part of its mandate; to patrol, intercept suspected smuggled items and access warehouses suspected to be used by smugglers and duty evaders explained that the said sum has already been paid into the Federation Account of the government.

The lost revenue it further noted was recovered by identifying shortfalls on duty payments and subsequent issuance of demand notices DN; sequel to interceptions and documentary checks.

Acting Controller in charge of the unit, DC Usman Yahaya, in a statement in Lagos, Thursday, said that the unit seized contraband goods with a total duty paid value DPV of N20.89billion. These include 31,129 50kg bags of imported rice, 11,290 cartons of foreign poultry products, 3,562kg of Indian Hemp, 9,801 kegs of 25 litres of vegetable oil, 560 units of used vehicles and 24,612 pieces of used tyres.

The statement signed on his behalf by the Public Relations Officer, Theophilus Duniya reads in part: “As an anti-smuggling unit, we remain resolute to the course of protecting our national security and economy. In remaining uncompromising in the fight against smuggling, duty evasion and other offences that contravene different sections of the extant laws that we have seized these goods within the period under review.”

According to him, no consignment or goods on transit would be unjustifiably delayed as long as there is compliance with the extant guidelines on the procedure for import and export clearance. “We are totally committed to the course of facilitating legitimate trade”.

He attributed this feat to credible information and intelligence gathering and therefore pleaded for timely and credible information from patriotic citizens that would assist the unit carry out its duties diligently.

“While we remain grateful to our esteemed critical stakeholders and patriotic citizens for their unflinching support, we also appeal to traditional rulers, teachers, religious leaders and parents to urge the youths not to allow themselves to be used by economic saboteurs.

“We shall remain determined in enforcing the Federal Government’s fiscal policies, extant regulations and guidelines on import/export; without fear or favour”, he declared.

NNPC To Focus More on Gas Condensates for Revenue Growth As It Commits To OPEC+ Agreement

Mallam Mele kyari
Mallam Mele kyari
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilizing the global oil market.

Group Managing Director of the Corporation Mallam Mele Kyari, stated this Wednesday while speaking at the ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021.
Mallam Kyari noted that despite the negative effects of the production cut on government revenue, it was the best step towards redeeming the value of hydrocarbon resources at the global market in the interest of all.
Speaking on the topic, “Outlook for Africa/Nigeria’s Oil & Gas Sector in Post-Covid Era”, he said NNPC was hopeful that by the end of the year demand for crude oil would pick up and there would be a marginal increase in output, stressing that the Corporation was focusing more on gas, condensate and other revenue streams to tackle the revenue challenge arising from the OPEC+ production cut arrangement.
He explained that gas proved to be a steady and reliable revenue stream during the height of the Covid-19 pandemic in 2020, adding that gas production and utilization would remain a key priority for the Corporation in 2021.
Earlier in his presentation, the Minister of Energy & Agriculture, United Arab Emirates (UAE), H.E. Eng. Suhail Mohamed Al Mazrouei, appealed to all oil producing nations not to flood the market with crude oil.
He said the UAE was at the moment is more concerned about balancing the market forces of demand and supply in the global market than growing market share.

AfCFTA: Position SON Strategically At Points Of Entry In Our National Interest- MAN Kano Branch Urges FG.

MAN Kano Branch
MAN Kano Branch
The Kano branch of the Manufacturers Association of Nigeria (MAN) is advocating the proper positioning of the Standards Organisation of Nigeria (SON) at the Nation’s entry points in preparation for the implementation of the African Continental Free Trade Agreement (AfCFTA). 

National Vice President of MAN, North West Zone, Alhaji Ali Madugu presented this positionl in Kano while receiving the Director General, SON, Mallam Farouk Salim during a working visit to the State recently. 

Alhaji Madugu emphasised the need for SON’s quality verification of all imported products including those from West African Countries, even with the rule of origin in the ECOWAS Trade Liberalisation Scheme. 

According to him, the commencement of the AfCFTA further underscores the need for SON’s presence at the entry points to prevent Nigeria from being turned into a dumping ground of substandard, fake and counterfeited products from other African Countries. 

He acknowledged the need for product authentication as an additional tool to fight faking, adulteration and unfair competition with substandard products in the market and urged SON to look at the best way to implement it without putting genuine manufacturers at disadvantage in terms of cost and the procedure for compliance.

The MAN National Vice President, commended Mallam Salim’s approach to addressing the concerns of about 140-member strong, North West branch of MAN and enumerated issues for his further consideration. 

These according to him include;
–      Decentralisation of SON testing facilities through building of additional Laboratories across the country, including Kano
–      Easier processing of import documents without necessarily visiting SON Headquarters in Abuja
–      Greater protection of local manufacturers’ MANCAP certified products from adulteration and faking of their brands in Nigeria and overseas as well as unfair competition with substandard imports. 

Other members of the North West Branch of MAN Executive Committee called for an upgrade and enlightenment of members on the SON offshore conformity assessment programme (SONCAP) portal, as well as the inspection procedure, sampling and testing relating to the Mandatory Conformity Assessment Programme (MANCAP) for locally manufactured products.

Mallam Farouk Salim in his response said that SON was set up to provide technical assistance and support to genuine local manufacturers as well as protect them from unfair competition from substandard products.  He acknowledged their sacrifices through investment in infrastructure, creation of job opportunities and regular payment of taxes as part of growing the Nation’s wealth and assured them of his commitment and support.

In his words “We need to partner with MAN to protect genuine manufacturers and legitimate importers by sharing intelligence to apprehend and prosecute standards infractions. With adequate consequences for actions, most people will follow the rules”, he said.

He decried the current situation where SON is unable to carry out quality verification of all its regulated imported products at the points of entry nor accost suspected substandard products outside the ports.

Mallam Salim stated that efficient service delivery remains his focus and invited MAN to pull forces together with SON for collective success in the interest of the Nation’s economy and the wellbeing of its people.

The SON Chief Executive asked the MAN and other stakeholders to look forward to seamless and robust deployment of information communication technology to enhance the agency’s delivery of efficient services and an appreciable reduction in turnaround time for standards development, product certification and registration amongst others. 

He invited MAN members to work with SON to further protect their brands through the deployment of a product authentication scheme to empower Consumers at the point of purchase. In his words “We need a symbiotic relationship to succeed without loss of business and relevance.” 

“While I call for genuine partnership with MAN and other Stakeholders, SON would not back down from implementing the law by diligent prosecution of standards infractions”, he concluded.