Importation of Fake, Inferior and Substandard Goods, Assessment and Impact on the Nigerian Economy

Abstract

The impetus for this study was necessitated by the desire of the researcher to evaluate, ascertain and assess the impact of importation, specifically, importation of fake, inferior and substandard goods on the Nigerian economy. The objectives of this study therefore were to examine the concepts of international trade and importation and thereafter proceed logically to a thorough study of the main theme - importation of fake, counterfeit, inferior and substandard goods, assessment and impact on the Nigerian economy. Additional objectives also included root cause and factors that continue to sustain trade in these products, role of regulatory agencies and remedies aimed at eradicating or in the least curbing the menace, among others. Consequently, two hypotheses were tested and the analysis revealed amongst others that: a. Importation in general hence, importation of fake, inferior and substandard goods in particular is inimical to and retards the Nigeria economy. b. Though a lot of factors are attributable for tile continued importation and trade in fake, inferior and substandard