Business
Queen’s College PTA Signs N242m Hostel Contract
The Parent-Teacher Association of Queen’s College, Yaba, is to build a N242 million hostel for the students.
The contract was signed on Monday in Lagos with the contractor, Messrs Bakkri Nig. Ltd..
Speaking at the ceremony, Alhaji Farouk Magaji, chairman of the association, said that the project was in response to the inadequate hostel facilities in the college.
He said that this had resulted in the temporary “de-listing” of some students from the college hostels.
“This did not go down well with most parents whose children were affected. And the PTA took it upon itself to find solution to the problem,”’ he said.
Magaji said that this would be the second time the association would embark on hostel construction.
“In 1999, the PTA embarked on a three-storey hostel which was inaugurated by the late First Lady, Mrs Stella Obasanjo.
“I do hope the proposed project will be commissioned by Dame Patience Jonathan on completion,’’ he said.
Magaji said that the project needed the support of well-meaning Nigerians and friends, as the school would be seeking for funds from corporate bodies and individuals.
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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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