Business
RSG Earmarks N9bn For Rural Electrification
The Rivers State Government has said that it has earmarked the sum of N9 billion for the electrification of rural communities in the state.
To this end, the State Government has said that it is targeting the month of September this year as a period when most communities will be connected to the grid.
The State Governor, Rt Hon. Chibuike Amaechi, who disclosed this at Akinima, headquarters of
Ahoada West Local Government Area during Town Hall meeting with the people of the area, recently said that it is the desire of his administration to ensure that communities in the State have regular electricity.
He also affirmed the determination of the present administration to ensure that the resources of the State are being utilized for the good of the people, and urged the people to always protect government investments in their areas of domicile.
In his response, the Chairman of Ahoada West Local Government Council, Awori Miller thanked the governor for the visit, and the efforts being made by his administration to better the lives of the citizens.
Miller also urged the governor to do more for the people of the area in terms of other investments, especially in building ultra-modern market for the people of the area.
He also solicited for the state government to transform the Mbiama Market to actually make the place a more attractive commercial hub.
Corlins Walter
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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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