Manufacturers under the auspices of the Paint Manufacturers Association of Nigeria (PMA) have expressed concerns over the activities of adulterating and fakers of paint in the paint industry, lamenting that, the menace is making its members lose revenue on a daily basis due to the unwholesome practice by unscrupulous individuals.The chairman, PMA, Ambolu Babatunde, at its 2023 yearly meeting in Lagos tagged ‘Post fuel subsidy removal-Survival strategies for paints manufacturers,’ said, faking and adulteration of premium brands are major challenges in the paint industry, saying, the challenge has defied some proffered solutions.He bemoaned that the reputations of the companies whose products are adulterated are also negatively affected, maintaining that, the effort of the Standards Organization of Nigeria (SON) has not deterred the perpetrators of the act while monitoring and enforcement of paint standards have not yielded the desired results. “It is our belief and hope that with improved regulatory frameworks and rigorous monitoring and enforcement of standards in the industry adulteration and quackery will be eliminated. Also we believe that churning out a National Paint Policy for the country, among other things will help to address the problem of adulteration and quackery in the industry,” he advised.He pointed out that, the theme for the yearly meeting was chosen because of the need for members of the association to explore ways and means on how to survive in the present economic challenges posed by the sudden and unprepared removal of subsidy on petroleum by the federal government.He lamented that, the move by the federal government has further disrupted social and economic activities in the country, stating the need for paint manufacturers in the country to look inward and come up with strategies to sustain their business so as to remain afloat.He added that, the year 2023 started on a note of uncertainty due to election matters, explaining that the environment affect business negatively.
He said, due to CBN policy, cash scarcity made the business environment a living hell, noting that the removal of fuel scarcity made doing business caustic, leading to rising costs of goods and services.He lamented over the bad and deteriorating road networks affecting the distribution of goods and services and movement of persons.On rail network, Babatunde expressed concerns over the non-existence of rail in the country, saying that its advent would bring down distribution costs and elongate the road network. Again, he added that, electricity supply has become more unreliable and epileptic than before, stressing that with energy costs and the attendant effects on other costs of production, the envisaged participation in the African Free Trade Zone will be a mirage.
The chairman said, the scarcity of raw materials continues to be a major challenge, pointing out that most of these materials are petrol-chemical derivatives, advising that, getting the nation’s refineries working properly would be a major route of overcoming the challenges.Going forward, he implored the Federal Ministry of Industry, Trade and Investment to expedite action on the Paint Policy Project so that paint manufacturers and their investments in the industry can be protected and rewarding.”We implore the governments at all levels to make it a policy to make sure that their projects are painted with made in Nigeria paints and enforce their contractors to do same with no excuses,” he averred.Also speaking, the Principal Partner, Tomfilms Associates International Limited, (Management Consultants), Ogundimu Leke, highlighted some survival strategies for paint manufacturers in the post fuel subsidy removal as adopting technological advancements, saying that it has become a necessity rather than a luxury.
