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‘Only Quality Products Can Compete in AfCFTA Market’

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  • ‘Only Quality Products Can Compete in AfCFTA Market’

The President, Manufacturers Association of Nigeria, Mansur Ahmed, has tasked members of the association on product upgrade ahead of the African Continental Free Trade Area Agreement business dealings, saying that products that do not conform to global quality standards will fail in the market.

Ahmed was speaking in Lagos on Thursday, during the inauguration of First Class corporate envelopes and Letterhead by indigenous envelope and stationary manufacturer, FAE Limited.

He remarked that FAE was sending a message to manufacturers in Nigeria that they could innovate at any level once there was commitment.

He said, “Companies that do not innovate and increase their product quality are putting themselves at risk.

“If the manufacturing sector is to contribute more than 10 per cent to the Gross Domestic Product, manufacturers must up their game, especially against the recent signing of the AfCFTA by President Muhammadu Buhari.

“Inferior products do not stand a chance to compete in that market, so we have to increase the quality of our products.”

The Managing Director, FAE, Princess Layo Bakare-Okeowo, expressed confidence that the introduction of the First Class envelopes and letterheads to match, would change the landscape of envelope production globally.

She said, “One interesting fact about this new product is that some components of its production were sourced locally with high level of consideration for the environment. The product is of six surfaces which are laid, elite, premium, luxury, laid-extra, from which prospective customers can make their choices.”

She added that the uniqueness of the product was its standout selection of six different embossing surfaces of various colours including its centred watermark, making it different from an existing laid product that is already popular in the market.’’

“Our lofty desire and strategic business plan is to see the product beyond the shores of Nigeria, thus making it a major foreign exchange earner for our economy,” she stated.

Present at the event were; Dr Nike Akande, her successor and President, Lagos Chamber of Commerce and Industry, Mr Babatunde Ruwase, the Chief Executive Officer, CMC Connect, Mr Yomi Badejo-Okusanya, Chairman, Lagos Chapter, Nigerian Institute of Public Relations, Olusegun Mcmedal, former Commissioner for Commerce and Industry, Ogun State, Otunba Bimbola Ashiru, and a host of others.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.