Business
Enugu Budgets N82.9bn For 2013
Acting Governor of Enugu State, Mr. Sunday Onyebuchi, recently presented a budget estimate of N82.9 billion to members of the state House of Assembly for their approval for the state’s services in 2013, even as the estimate is higher by 8 per cent than that of 2012 budget.
Tagged of “Budget of Sustainability”, Onyebuchi said there shall be strict budget discipline to ensure efficient implementation and a consolidation on the gains of 2012 budget.
Making the presentation on the floor of the House, Onyebuchi stated that the present budget is higher than that of 2012, adding that out of the estimate, N45.8m or 55 per cent of the sum would go into recurrent expenditure, while N37.1 or 45 percent of the budget is for capital projects.
Explaining how the budget would be put to use, Onyebuchi further said that the construction of new governor’s building would begin early next year, adding that work would continue in all the on-going projects like road constructions in both urban and rural areas.
He enumerated new roads under construction to include Iheaka-Ibeagwa-Alor-Agu road, Agbani- Ihuokpara road, Nnewi-Oduma road, Uzouwani roads, Udenu ring road among others.
According to him, 37 communities would benefit from the proposed budget on rural electrification that would gulp N2.6b.
Onyebuchi said; “It is a dream for 2013 which may not address all our aspirations but has touched core priorities of our people.”
Responding, the Speaker of the Enugu state House of Assembly, Hon. Eugune Odo, noted that the 2012 implemented budget corresponded with the income of the state.
The speaker pledged speedy passage of the appropriation bill, adding that the house members will continue their oversight functions to ensure that the budget is realised.
Odo went on to say that the house will involve the civil society and the media in perusing the 2013 budget.
Meanwhile, the crisis generated by the long absence from office of the Enugu State Governor, Sullivan Chime, came to the open during the 2013 budget presentation by the acting governor of the state, Mr. Sunday Onyebuchi, in absence of Chime.
Conspicuously, some government functionaries were absent at the House of Assembly Complex including local government chairmen, national assembly members among other dignitaries that used to grace budget presentation ceremony of previous years in the state.
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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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