Business
Greater PH: FG Builds PTDF Training Centre
As part of infrastructural development in the Greater Port Harcourt City projects of the Governor Amaechi-led administration in Rivers State, the Federal Government has commenced work on the Petroleum Trust Development Fund (PTDF) Skills Acquisition Centre at Omagwa in Ikwerre Local Government Area.
Also, construction of roads and building of the new Rivers State University of Science and Technology, Port Harcourt have begun, while contract for the electrification of the Phase I of the Greater Port Harcourt City has been awarded.
Administrator of the Greater Port Harcourt City Project, Dame Aleruchi Cookey-Gam, who disclosed this, said other infrastructural work would soon begin.
Speaking in an interview with The Tide at Port Harcourt International Airport, Omagwa, Dame Cookey-Gam said the project is a continuous development process as long as Port Harcourt exists as a city and people continue to live in the city .
“We want to see development take place in a structural manner, Aleruchi stated, explaining that the Phase I of the project covers part of Igwuruta, Aluu and part of Omagwa land, while the Port Harcourt International market is situated in Elelenwo area.
According to her, the last batch of payment to owners of lands acquired for the project was N600 million, which is currently being paid. “ We have open door policy for the communities and we don’t see their request for engagement as unnecessary. It’s something we expect and we try to discuss with them to know their problems and we try to do our best for them,” she said.
Advising land developers within the areas designated for the Greater Port Harcourt City to seek approval from the government before embarking on any project, the administrator said, “anything you want to do, you meet us with the plan and we determine before you start”.
She insisted that everything done within the area must give value to the land, saying, “ if you have the land, we will tell you what to do there”.
Dame Aleruchi used the opportunity to commend President Goodluck Jonathan for his magnanimity in accepting two ministers of Rivers State extraction into his new cabinet, saying “ we have confidence that our people appointed as ministers will utilise the opportunity well”.
Shedie Okpara
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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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