Business
Mile One Market Commissioner Blames Allocation Delay On Defects
Commissioner of Information and Communications, Mrs Ibim Semenitari has said that traders at the Mile 1 Market would wait a little longer for the allocation of the stalls.
Mrs Semenitari, who was speaking at a press briefing by her Ministry, explained that the reason for the delay was due to some structural defects detected on the building, stressing that government has set up machinery in motion to affect correction before allocation is done.
According to her, Amaechi-led administration is convinced that it is not safe to allocate any part of the market to traders with such observation not being corrected.
The commissioner noted that it was necessary to place on record that the new Mile 1 market was one of the projects inherited by the present administration.
Mrs Semenitari assured traders that allocation of stalls to traders would be done in a transparent and accountable manner, bearing in mind the promises of the state governor to the traders.
She appealed to the traders to be patient with government, as every trader who is expected to have a place in the new market would be accommodated while others would wait for the second phase of the project.
Mrs Semenitari therefore warned rumour mongers who have peddled a lot of misinformation about government position on the allocation of stalls to stop such act.
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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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