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Home Economy

Manufacturers Advocate Balanced Regulatory Environment

Business 360 by Business 360
April 3, 2024
in Economy
0
Manufacturers Advocate Balanced Regulatory Environment

Manufacturers under the umbrella of the Manufacturers Association of Nigeria (MAN) have called on regulators to create an environment that fosters objectivity and fairness while protecting the interests of consumers and preserving the integrity of manufacturers.

In a statement released by the director-general of MAN, Segun Ajayi-Kadir, the association emphasized the necessity of shielding manufacturers from the adverse impacts of social media defamation and ensuring fairness for all stakeholders. Ajayi-Kadir highlighted the potential detrimental effects of social media trials and defamation on businesses, stressing the need for measures to mitigate such risks.

Addressing the issue of Social Media Defamation, Ajayi-Kadir emphasized the importance of protecting manufacturers from unverified negative claims about locally manufactured products. While acknowledging consumers’ right to voice legitimate complaints through proper channels, he underscored the significance of holding consumers accountable for spreading false information about local products and attempting to vilify local manufacturers.

The MAN director-general referenced a recent incident involving a member company, Erisco Foods, and a dissatisfied customer, highlighting the importance of equal protection for both manufacturers and consumers’ rights. He urged regulators to recognize the challenges faced by manufacturers in Nigeria and to promote consumer patronage and empathy while safeguarding the business interests of manufacturers.

The call by MAN underscores the need for a balanced approach to consumer protection and business integrity in Nigeria’s manufacturing sector. As social media continues to play a significant role in shaping public opinion, MAN seeks regulatory intervention to ensure fairness, objectivity, and accountability in addressing issues related to product quality and consumer feedback.

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