In Nigeria, it is not difficult to spot fake goods. Massive amounts of them are easily accessible on our streets, main roads, improvised stores, and even markets. But Nigeria is not the only country where this manufacturer’s nightmare is at play. This unlawful industry is so large that it is believed to be worth $450 billion, making it a global problem. A few of the many negative effects this underground market has on producers, customers, and authorities include tarnished reputations, lost income, linked health risks, and tax losses (the government).
Because counterfeiting may be a question of survival, especially for underdeveloped and emerging countries, the business is still thriving despite these enormous hazards. It is not unexpected that many customers who cannot afford to buy the genuine product find the fake product enticing given that counterfeit goods are supplied in Nigeria, where over 70 million people currently live in abject poverty. Here are a few of the goods that are most frequently imitated in Nigeria.
Medicines are one of the most counterfeited product in Nigeria.
The most commonly counterfeited product in Nigeria is probably pharmaceutical products, especially pharmaceuticals. According to the National Agency for Food and Drug Administration and Control (NAFDAC), it is the largest market for fake medications in the developing countries. According to the regulatory body, 13% to 15% of the pharmaceuticals in the nation are bogus. It has seized drugs worth 2 trillion naira ($4.8 billion) during the previous three years. Drug dealers in improvised pharmacies, online, and brick-and-mortar stores who dispense uncertified fake pharmaceutical products to unwary customers are the main drivers of the proliferation of these drugs on the market.
A lot of Nigerians often find these subpar goods appealing partly due to their decrease in price. However, they are followed by severe and life threatening health and financial repercussions. Thousands of individuals die each year from using bogus drugs, from internal bleeding, stomach ulcers and cancer to kidney failure. On a similar negative note, it puts companies and individuals in the health sector that offer real products’ profitability in jeopardy, which in turn discourages investments.
Products in circulation does not correspond with these outlets’ capability.
Another sector that is troubled by this issue is the fashion industry, from shoes to jewelry. Top fashion labels with high-end prices like Gucci, Louis Vuitton, Jordan, and Adidas have had their luxury goods faked to cater to the demands of people who lack the means to use the brand. In Nigeria, some of these designer labels have few retail locations. Therefore, it becomes obvious there is a murky market when the volume of products in circulation does not correspond with these outlets’ capability. Roadside shops, markets, and social media vendors have all emerged as popular sources for these counterfeit goods.
For instance, prior to its official sale date by Nike during the 2018 World Cup, reproductions of the Super Eagles shirt were available in markets. The transaction was so explosive that a broker told BBC that he had sold more than 3,000 pieces before the scheduled release. While some of these products are clearly counterfeit, others have distinctive attributes that deceive many consumers into believing they are buying genuine goods. People now view it as a reliable and alternative source for assimilating into a fashion culture or trend, which is why it has gained popularity.
Fake automotive parts are used by mechanics to cut down costs.
There’s a good chance that if you’ve ever been to a mechanic’s shop in Nigeria, you’ve seen the use of fake automotive parts. Since it allows technicians to save money, the market is booming. According to the Standards Organization of Nigeria (SON), around 75% of the vehicle parts in the nation are bogus. It is not unexpected that they need repairs frequently because the majority of cars brought into the nation are second-hand foreign vehicles.
Related Link
CIA: Website
Fact-Checking Tool – Snopes.com
