Business
Mexican Firm, Enugu Govt Partner For Pineapple Production
Enugu State Government has approved the establishment of a joint venture of Enugu Pineapple Project with SAN CARLOS of Mexico for commercial production of pineapple for both local consumption and export.
This is disclosed by the State Commissioner for Information, Mr Chuks Ugwoke during a press briefing at the end of the State Executive Council meeting presided over by Governor Sullivan Chime at the Government House, Enugu.
According to him, a committee headed by the State Commissioner for Finance, Mr Godson Nnadi was set up to work out other modalities and perfect Memorandum of Understanding with the foreign partner for the actualisation of Tobec Bottled Water/Beverages Company in the state by Echo Philomina Ventures.
The Commissioner also disclosed that the council has approved the review of fees payable in the State Ministry of Lands and Urban Development to enhance land administration in the state.
He explained that the review was in consideration of the need for speedy transactions in land administration in the state, adding that it would also help reduce the activities of land speculators and encourage land owners to develop their plots without much delay.
The Commissioner said that the council also used the occasion to appeal to commercial motorcycle owners in the state to adhere to the regulations guiding their operations in the state.
He explained that government did not ban the operation of commercial motorcycle in the state rather they are restricted from operating in some designated areas and time, in the state.
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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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