Business
Council Purchases N4.9m Chemicals For Cocoa Farmers
The Ikom Local Government Council of Cross River State, says it has purchased agro-chemicals worth N4.9 million for distribution to cocoa farmers in the area.
The Council Chairman, Dr Tony Ngban, disclosed this at the inauguration of the Task Force for the Eradication of Fake and Adulterated Chemicals.
He said that the state government had subsidised the cost of the chemicals which included Funguran-OH and Rudomil Gold by 50 per cent.
According to him, the council will further subsidise the cost by 20 per cent to make it affordable.
The chairman said the government’s involvement in the distribution of agro-chemicals was designed to save farmers from purchasing fake and adulterated chemicals.
He noted that fake and adulterated chemicals had not only reduced the quality of cocoa beans but also contributed to early demise of cocoa trees.
Ngban also said that the council planned to procure fertiliser for distribution to farmers at 20 per cent subsidy.
He, therefore, appealed to farmers to shun fake and adulterated chemicals, stressing that they are injurious to both their health and that of their crops.
The council boss advised the task force to ensure that substandard chemicals were eliminated from all markets in the area.
The Tide source reports that the task force is headed by Mr Victor Eyam Osim, the council’s Supervisor for Agriculture.
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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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