Standards Organization of Nigeria (SON) has raised the alarm over the increasing number of indigenous companies closing down in Kwara state.
Speaking shortly after presenting the Mandatory Conformity Assessment Programme (MANCAP) certification to a pharmaceutical company in Ilorin, the state coordinator of SON, Mr Ayeni Feyisayo, said that at least, 11 per cent of those companies close down every year due to unfair economic realities.
According to him there is the need to consider those companies that are closing down because of numerous economic and technical problems .
Mr Feyisayo explained that there is a national sustainability plan that are engaged to ensure
companies 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.
Earlier in his address , the Executive Director of the pharmaceutical company, Damilola Shittu, decried the influx of substandard pharmaceutical products into the country.
He appealed to the Standard Organization of Nigeria to tighten the noose on the people engaging in sharp practices to protect the health of unsuspecting Nigerians.
COV/ALI MUHAMMAD RABIU