Business
FG Wants African Countries To Partner On Mining
The Federal Government has called for purposeful collaborations among African countries to ensure a common mining regime in the continent.
This is contained in a statement from the Federal Ministry of Mines and Steel Development issued by an Assistant Director in the ministry, Mr Stephen Kilebi, in Abuja last Saturday.
It stated that the Minister, Mr Musa Sada, made the call when the Sudanese Ambassador to Nigeria, Dr Tagelsir Ali, paid him a visit.
According to the statement, the minister stressed the need to develop a common mining regime to ensure value addition to the mineral resources exploitation in the continent.
It stated that this would forestall the problem of flight of mineral resources outside the continent which had been militating against the growth of the minerals and metals sector.
“One of the best ways to move forward is to join forces among ourselves to add value to the minerals and be shielded from being shortchanged and to ensure common exploration regime,’’ it stated.
The statement also enumerated various reforms such as legal and institutional frameworks that had been put in place to develop the Nigeria’s minerals and metals sector.
It noted that the reforms in Nigeria’s minerals and metals sector gave birth to the Nigeria Institute of Mining and Geosciences, Jos.
The statement stated that the institute offered mining courses in Mining Project Development, Mining Engineering and Minerals Exploration, among others.
It noted that the focus of the government was to make the Nigeria Institute of Mining and Geosciences in Jos a centre of excellence in human capacity development.
According to the statement, the institute will proffer solutions to some of the problems facing the minerals and metals sector.
It also noted good relationship between Sudan and Nigeria, urging other neighbouring countries to embrace similar mining reforms undertaken by Nigeria to develop minerals and metals sector.
The statement said that Ali had earlier pointed out that the visit was to seek collaboration with Nigerians in the area of mining.
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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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