Business
Lagos Lawmakers Urge Jonathan To Endorse Budget
The Lagos State House of Assembly has urged President Goodluck Jonathan to sign the 2013 budget, to put smiles on the faces of Nigerians.
Some members of the assembly called for the endorsement of the budget in separate interviews in Lagos.
Mudashiru Obasa said the increase in the budget was justifiable, as the National Assembly did it to enable them to implement their constituency projects.
Obasa said such projects would enable the people to enjoy the dividends of democracy, adding that such projects would complement the efforts of the executive.
“I think the National Assembly has done their part on the budget; it is after they have done the necessary thing like the budget defence that they increased the constituency projects allowance.
“And I think their position was in the interest of the people. I urge the president to comply and sign the budget in the interest of the people.’’
Mr Bisi Yusuf urged Jonathan to sign the budget in the interest of the people.
Yusuf, Chairman House Committee on Transport, Commerce and Industry, urged the presidency not to play politics on the lives of the people.
He said the friction between the National Assembly and the presidency on the budget would slow down development in the country.
“ The Federal Government should not play politics with the lives of the people on the budget matter.
They should resolve the issue and sign the budget for the benefit of the people.
“Government should know that the hopes of Nigerians depend on the budget,’’ he said.
It would be recalled that President Goodluck Jonathan withheld assent on the budget over the constituency projects.
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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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