Business
NDDC Boss Solicits Stakeholders’ Support
Mr Chibuzor Ugwuoha, the Managing Director of the Niger Delta Development Commission (NDDC), has appealed to stakeholders to support the implementation of the Niger Delta master plan.
Ugwuoha made the appeal in Port Harcourt on Thursday, while inaugurating a 16-man management committee for the Niger Delta Regional Partners for Sustainable Development (PSD).
It is noted that PSD is provided for in the NDDC regional master plan to identify priority projects for execution in the region.
Represented by Mrs Henrietta Ogan, the NDDC Director, Planning, Research and Statistics, Ugwuoha said that partnership among stakeholders would make for faster development of the region.
He also said, “With the pedigree of the committee members, I am confident that the vision of the Niger Delta Regional Development Master Plan will be achieved.”
Governor Rotimi Amaechi of Rivers, represented by Dr Godknows Tam-George, his Special Assistant on NDDC, in his contribution said that the inauguration of the PSD committee was long overdue. He said that stakeholders had been longing for the committee, as it would make for proper implementation of the NDDC regional master plan.
“We are ready, as a state, to make PSD succeed. All what is required is for the members to show zeal in carrying out their task,” Amaechi said.
The committee membership is drawn from the nine states in the Niger Delta region, as well as some principal staff of NDDC.
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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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