Business
Approved Constitution Amendment ‘ll Take Automatic Effect – Sen Eze
Sen. Ayogu Eze, Chairman, Senate Committee on Information and Media, says the amendment to the 1999 Constitution will become part of the document as soon as the states affirm the relevant sections. Eze told newsmen yesterday in Abuja that there was no need for the President’s assent for the amended sections to become law.
“The President does not need to sign the amended constitution. The process ends with the National Assembly after which it becomes part of the constitution outrightly,’’ he said.
He said that as soon as the state Houses of Assembly concluded work on the document, the two chambers would collate what the state assemblies had done.
`We don’t need to debate it. We don’t need any required number by the two chambers for it to become law again.
We are very anxious to ensure that it becomes part of the processes for next year’s election.“Any section that does not have two-thirds approval of the states, stands rejected but any section that has such approval stands amended,’’ he said.
He, however, said that the National Assembly had to go through the process again for any clause that did not receive two-thirds approval by the state assemblies.
Transport
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Transport
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Business
Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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