Three Billion Naira Worth of Fake And Substandard Products Impounded In 2017

By September 13, 2018Economy, General

According to the recent data from National Agency for Food Drug Administration and Control (NAFDAC), 3 billion naira worth of fake and substandard products  were impounded during the stated year. This is a 66% increase from the previous year 2016, where 1 billion naira worth of fake products were impounded.

In addition, 11,406 products were presented for approval and only 11,240 products were granted registration.  Only 2,812 imported products and 8428 locally made products were registered. As a result, 166 products’ registration were rejected but no NAFDAC number was withdrawn.

In total, 6,999 applications were received for product registration. From these applications, 2,910 were for registration of imported products while 4,089 were for registration of locally made products. This data is illustrative of a strategic move by the regulating body to reduce importation and promote locally produced goods.

In contrast with the previous year, 2016, the number of products registered skyrocketed 34% while the number of products registration rejected decreased by 28%. For that year, 2,262 products were presented for registration approval and 2,033 products were granted registration. Also, 229 products registration were rejected and 3,236 applications were received for new products registration.

 

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