Business
‘Nigeria’s Tourism Earnings May Hit $9.4m’
Improved sanitation conditions in Nigeria could increase travel and tourism income to $9.4 million (N1.5b) annually, a Water and Sanitation international report has shown.
The report made available to our correspondent in Abuja indicated that unhealthy environment has reduced the tourism competitiveness.
“The World Economic Forum (WEF) Travel and Tourism competitiveness report ranks countries according to 75 indicators, one of which is sanitation status.
“Based on the current contribution of travel and tourism to GDP, addressing sanitation in Nigeria could lead to an increase in travel and tourism of an estimated $9.4 million annually,” the report stated.
Meanwhile, the UN Water Global Analysis and Assessment of Sanitation and Drinking Water (GLAAS) Report 2012 has shown results of what countries can achieve with sustained commitment, adequate resources and effective implementation approaches.
The report showed that between 1990 and 2010, over 2 billion people worldwide gained access to improved water sources and 1.8 billion people gained access to improved sanitation.
Our correspondent reports that the UN Water Assessment Report monitors the inputs required to extend and sustain water, sanitation and hygiene (WASH) systems and services.
It also analyses the factors associated with progress, bottlenecks, knowledge gaps, strengths, weaknesses, challenges, priorities and successes, to facilitate benchmarking across countries.
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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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