The Standards Organisation of Nigeria (SON) has introduced fresh standards to combat the high level of rejection faced by Nigeria’s agricultural commodities at the global markets.
The move according to the standards body is apt and timely to make Nigeria agro commodities competitive at the international markets, especially with the introduction of African Continental Free Trade Agreement (AfCFTA).
The Director General, SON, Mallam Farouk Salim, stated this on the sidelines of the visit of SON Governing Council to audit SON’s facilities in Ogba area of Lagos.
According to him, most of the times when Nigerian goods are rejected, it is due to failing to go through standard procedure locally before exporting to other countries, saying that as long as exporters continue to ignore local available standards, their products would continue to be rejected.
He added: “Exporters do not check the standards of the country they are exporting to so as long as our exporters ignore our standards, they will still have their products rejected, but if they follow the procedures, we are here to partner and assist them to make sure that their products are accepted globally.”
SEC, SON collaborate on commodities Standards
Meanwhile, the Securities and Exchange Commission and the Standards Organisation of Nigeria have said they will intensify collaboration on the commodities trading ecosystem with the hosting of a commodities standards sensitisation workshop.
The SEC said in a statement on Sunday that the workshop would hold this week in Lagos, with processors farmer groups, exporters, farmer co-operatives, merchants/off-takers and agric extension officers expected to attend.
It said the partnership would help foster the development of a grading and standardisation system in line with international best practices.
The Director-General of the commission, Mr Lamido Yuguda, had said recently that SEC constituted a technical committee on the commodities trading ecosystem to identify the challenges of the existing framework and develop a roadmap for a vibrant ecosystem, according to the statement.
According to Yuguda, it is globally recognised that a unique feature of a commodities exchange is the standardisation of the commodities traded on its platform. He noted that the establishment of relevant standards would be transformational for the Nigerian commodities trading ecosystem.
The DG of SON, Mallam Farouk Salim, was quoted as saying that the agency was excited to collaborate with the SEC as it sought to develop the capital market in Nigeria and the Nigerian economy at large.