A consumer protection group, Concerned Consumers, has revealed that Nigeria loses over N104 billion annually from the importation of energy drinks. Olufemi Odebunmi, the convener of the group, expressed disappointment in regulatory agencies for not banning these energy drinks despite their debilitating health impact.
Odebunmi stated that if the energy drink market grew indigenously without unfair competition from international brands, over 300,000 Nigerians would be employed. The group suggested that regulatory agencies such as the National Agency for Food and Drug Administration and Control (NAFDAC) should develop policies to encourage local production of energy drinks.
The group further disclosed that an average of 1,800 to 2,000 containers of energy drinks are imported annually into the country. Each container comprises 2,600 cases, with prices ranging from N18,000 to N20,000 per case, resulting in a whopping N104 billion loss to the country.
It is crucial to note that the health implications of these energy drinks are known to cause adverse effects, including seizures, high blood pressure, and even death. Therefore, concerted efforts must be made to promote the development of local energy drinks, which will not only boost the economy but also promote healthy living among Nigerians.
In conclusion, it is essential that regulatory agencies pay close attention to the impact of imported products on the Nigerian economy and her citizens. Properly thought-out policies that encourage the growth of local industries should be established and enforced to ensure that Nigeria maximizes her self-sufficiency potential.
Disclaimer: This article contains data sourced from external outlets for informational purposes only. No information provided constitutes investment advice. Therefore, we suggest that before making any investment decisions, you should seek the advice of a financial advisor.
