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Golden Penny seeks protectionist policies for local manufacturers


Golden Penny has called on managers of the economy to formulate favourable policies that would protect local manufacturing firms from unfair competition.Indeed, the company stated that the real sector contributes significantly to the country’s Gross Domestic Products (GDP) while also providing job opportunities for the youths.
According to the Category Manager for noodles, Golden Penny, Chiaka Eluchie, at its wholesalers’ forum and product launch, the present administration must implement policies that would make local manufacturing outfits compete at the global market, noting that if well implemented, the policies would grow local businesses.
Eluchie said: ‘‘we want the federal government to give us some concessions, protect local manufacturers with favourable policies to compete favourably at the global market. We have expertise in making most of the products coming into the country. These policies would grow local businesses if implemented and you know that Nigerian economy is heavily based on the manufacturing industry, so if we do well, Nigeria will do well.’’
On its latest product in the market, Jollof noodles, she said the move was part of its effort to give Nigerians access to quality, affordable and healthy nutrition.She added that the brand is one of its kind made from a unique blend of spices designed to meet consumers ever changing needs
In her words, ‘‘For us, Golden Penny Noodles is one of the top three brands in this category for over 10 years, so we are using this launch to excite our consumers by giving them another flavour. We have done so much research on wheat flavours that appeal to consumers, so we decided to come out Jollof noodles flavour. 
“This brand is one of its kind made from a unique blend of spices that gives that intriguing jollof taste which is ready in five minutes. You know Nigerians have that nostalgic feeling about jollof, so this what we have recreated in the noodles. We have actually designed it to meet consumer needs.’’
According to her, Golden Penny which currently holds the third position with about 10 per cent of the noodles market share worth over N109 billion, has intentions of increasing its share even further.


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