by The Standards Organization of Nigeria (SON) has expressed concern about the growing number of indigenous businesses closing down in Kwara state.
Mr Ayeni Feyisayo, state coordinator of SON, said while presenting the Mandatory Conformity Assessment Programme (MANCAP) certification to a Pharmaceutical company in Ilorin, that at least 11% of those companies close down every year due to unfair economic realities.
According to him, there is a need to consider companies that are closing down due to a variety of economic and technological issues.
Mr Feyisayo explained that there is a national sustainability plan in place to ensure that businesses do not close down.
He noted that the factors responsible for the short lifespan of the companies included lack of expertise, improper establishment of some of the companies, as well as unfair competition.
Executive Director of the Pharmaceutical company, Damilola Shittu, decried the influx of substandard pharmaceutical products into the country.
Damilola Shittu appealed to the Standard Organization of Nigeria to sanction people engaging in sharp practices to protect the health of unsuspecting Nigerians.
Source: radionigeria
