Business
FG Spends N500m On Roads, Bridges Designs
Facts have emerged that the Federal Ministry of Works is spending about N500 million each on roads and bridges designs yet the country has deplorable roads.
The money is part of the annual budget rituals in which designs of roads construction gulped several billions of naira, separate from the award of the construction of the roads and the bridges.
As a result of the loss, the Government has commissioned a road and bridge design office in order to reduce cost and save the country the money hitherto was used on design consultancy outside the ministry of works.
Mike Onolememen, Works minister commissioned the newly established Federal Highway Design office with modern equipments in the Federal Ministry of Works Headquarters, Abuja.
Onolememen explained that the initiative was aimed at ensuring that a full-fledged road and bridge design office is established noting that ministry like Federal Ministry of Works needed to be self-sufficient on road and bridge designs.
The Minister also stated that before the establishment of the office, engineers of the ministry had gone on training in various institutions abroad and are already posted to the Design office in order to demonstrate their level of competency in the field, adding that the young newly employed engineers also have opportunity of being trained in the Design office.
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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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