By Deji Abdulwahab
The Abuja Chamber of Commerce and Industry (ACCI) has urged manufacturers to devise strategies to improve the quality of their products in spite of the scarcity of foreign exchange.
The chamber’s President, Mr Tony Ejinkeonye, gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.
Ejinkeonye said manufacturers should strategise to survive in the “new normal” situation and cut costs without reducing the quantity and quality of their products.
“Both quantity and quality are functions of demand and supply for any product, therefore, any manufacturer that cuts corners must know that every rational consumer will always demand value for money.
“If reduction of quantity and quality of products leads to sub-standard products, then that action cannot be good for any economy.’’
The chamber’s boss said the Standard Organization of Nigeria (SON) and other regulating institutions had set standards for products, which must be complied with.
According to him, manufacturer in Nigeria have no alternative than to continue producing high quality products to remain competitive.
“The current situation is temporary, however, we must continue to advocate for improvement in the business environment and for policies to encourage local manufacturing.
“Furthermore, manufacturers should strategise to survive in the new normal and also cut costs without reducing the quality of their products,’”Ejinkeonye said.(Edited by Gregory Mmaduakolam and Controlled by Maharazu Ahmed)