Business

JUST IN: SON Warns Auto Dealers Against Cloning Successful Brands

Published

3 years ago

June 26, 2023

524 Views

The Standards Organisation of Nigeria (SON) has warned manufacturers and dealers in the country’s automotive industry to desist from cloning successful vehicles brands in order to make quick gains, and depriving the trade mark owners of their benefits.
Mallam Farouk Salim, the Director- General, SON, gave the warning during a parley with the Auto Spare Parts and Machineries Dealers Association (ASPAMDA), in Lagos.

“We all must ensure that only products that comply with laid down Nigeria Industrial Standards are available for sale in this market,” he said.

He said that the the SON Act 2015 empowers the agency to arrest and prosecute offenders, stressing that it would step up its ante to make it impossible for fakers to thrive.

He noted that SON has been working in every sector to bring sanity and raise the confidence of manufacturers, importers and consumers, maintaining standards are improved and reviewed regularly to meet up with current realities.

“SON will continue to seek greater collaboration with private sector, especially the ASPAMDA, to sanitize the market, expose and prosecute those engaging in illegal activities such as relabeling and cloning of popular brands with low quality varieties,” he said.

He noted that just like other big markets across the country, ASPAMDA has become a household name, adding that the Standards body acknowledges the importance of the market and would continuously seek out ways to collaborate and carry along all the stakeholders of the very vital market in the business of standardisation.

” We need your continuous support to discharge our mandate of ensuring that only products and services that are of high standard and quality are in circulation. We need to involve all of you towards ensuring strict adherence to the requirements of applicable standards in line with international best practices,” he said.

Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

20 minutes ago

June 30, 2026

Charles Flames

4 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

4 hours ago

June 30, 2026

OCHEFA

17 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”