An indigenous cable company, Cutix Plc has called on the federal government to address the influx of substandard products in the cable manufacturing industry in the country.
The in-coming Chief Executive Officer of the firm, Mrs. Ijeoma Oduonye stated this on Friday in Nnewi, Anambra State during a press briefing ahead of its Annual General Meeting.
She regretted the over saturation of fake materials in the cable market, wondering how the peddlers were able to beat the regulatory agencies at the boarders.
Oduonye who hinted that the company scarcely enjoy any incentives from the government, described the increase in fake products as the firm’s biggest challenge, insisting that tackling the scourge would be of great relief to the company.
“It is surprising how these substandard products find their way into the cable market when there are people charged with the responsibility of guarding against it.
“It will be the biggest incentive from the government if the market is weeded from substandard products so the innocent buyer will be left with the only option of quality products,” she said.
She also explained that the erratic power supply in the state was another major challenge facing the company.
Oduonye said, “We basically run our two plants on diesel. We consume two tankers of diesel every month.
“Provision of these essential incentives will go a long way to reducing cost of production which will invariably affect the prices of our products.”
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While noting that she had no intention of introducing any drastic change to the company, the new CEO pledged to solidify on the firm’s tripod stand of quality, which she described as the firm’s success driver.
On his part, the out-going CEO, Mr. Ifeanyi Uzodike revealed that the company’s revenue grew from N1.32 billion to N5.1 billion within a decade he held sway, attributing it to the uncompromising stand of the organization to quality.
Uzodike who said he had nothing to regret throughout his 10-year tenure, however noted that his greatest challenge was keeping the company afloat, including managing the workforce and other company resources.
“Our company has a 100 percent indigenous workforce with 250 members of staff. We don’t have expatriate workers here. That is one major reason we don’t play with human capacity development,” he said.
Appreciating the stakeholders for the cooperation and support given to him in course of his administration, Uzodike
urged them to extend same to his successor for greater productivity.