Business
LG To Empower Youths With N10.5m Loan
The Gwandu Local Government in Kebbi is to give loans totaling N10. 5 million to 150 unemployed youths in the area.
The Sole Administrator of the council, Alhaji Dangi Juli,disclosed this to newsmen in Gwandu last Thursday.
He said that the loans were meant to alleviate poverty as well as enable beneficiaries to become self- employed.
He said that 150 prospective beneficiaries would be screened by a committee to determine those who were capable of repaying as well as handle the disbursement.
Juli said that the local government would continue to initiate policies and programmes to help youths to be gainfully employed.
“The council has also provided N15 million agricultural loans to dry season farmers,” he said.
According to him, arrangement will be made with the state government for the procurement of agricultural inputs.
He said that the inputs would include bulls, ploughs, tractors, insecticide and pesticides for distribution to farmers at subsidised rates.
Juli said the loans were aimed at supporting the people to become self-reliant, especially in agricultural activities.
He said that prompt release of funds from the state government had contributed to the development of the area.
Reports say that Gwandu local council had also granted loans of N5 million to some farmers to encourage commercial cassava farming.
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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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