Greener Journal of Business and Management Studies Vol. 3 (3), pp. 119-131, April 2013
ISSN: 2276-7827 © 2011 Greener Journals
Manuscript Number: 102412141
Overview of the Socio-economic Implications and Management of Product Faking and Adulteration
Lawal Bello Dogarawa
Nigerian Maritime Administration and Safety Agency
No. 4 Burma Road, Apapa –Lagos, Nigeria.
Email: lbdogarawa @ yahoo. com
Products faking and adulteration is a global menace with origin mainly from Asia and destination largely in Europe and Latin America. While counterfeiting cut across all segments of production, perpetrators use both formal and non-formal channels of distribution to move their products into different countries. This article provides an overview of the sources, causes, volume, implications and control of product faking and adulteration. The paper employed general literature survey, complemented by interviews and personal observations to articulate global picture of product faking and adulteration. It uses deductive reasoning to derive the socio-economic impacts of counterfeiting and the existing methods of controlling it. The paper recommends among other ways an integrated institutional approach to manage the challenges of product faking globally.
Keywords: Fake, Adulterated, Products, NAFDAC, SON, Greed, Ignorance, Expensive, Cheap.