According to Mallam Farouk Salim, Director General of the Standard Organization of Nigeria (SON), counterfeit and inferior goods had been marketed globally in 2021 for an estimated $4.3 trillion.
At the organization’s 50th anniversary celebration in Lagos, the director general made this statement and reaffirmed the organization’s commitment to purging the national market of inferior and counterfeit goods.
The SON director stated that the staggering number highlights the need for SON and industries to work closely together to combat the pandemic.He urged business leaders to increase their brand protection spending in order to defend their products’ intellectual property against copycatters, thieves of copyright, and manufacturers of subpar goods.
The DG also gave stakeholders assurances that SON would step up its public relations efforts and campaigning to find and prosecute national vendors of subpar goods.He said that the market for fake and substandard goods was estimated at $4.3 trillion globally in 2021, stating that this enormous sum highlights the necessity for SON and industry to work closely together to combat the issue.
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