Business
Lagos Opens Competition For Innovators
Lagos State along other major 22 forward thinking cities of the world has opened a competition for innovators to win the opportunity to implement their solutions in a real environment in the areas of urban and social challenges.
Among the 2,535 innovators that competed, 120 providers were selected and invited to present their commitment to partner with cities and help improve the lives of 121 million citizens by implementing their high impact solutions to challenges such as social exclusion, energy management, urban dereliction, mobility and health.
To get the innovators to compete, the cities involved publicly published their most pressing urban and social challenges in areas such as social inclusion, health and well being, economic development, urban management, mobility, lighting, energy and sustainable lifestyle. Lagos is seeking solution to provide access to the social and economic benefits of Internet.
Participation of Lagos and other cities in this progamme represents a joint commitment to spread proven innovations in a more cost – effective and sustainable way by helping to build more resilient and smarter communities.
Considering the fact that Governments all over the world spend so much money each year to deliver services that shape the quality of life of the majority of world’s population, the LLGA initiative helps cities discover innovative, yet ready solutions to meet their problems and match their commitment to act with the willingness of businesses and organisations to share initial risk.
According to a statement from Lagos State Ministry of Science and Technology, signed by Rotimi Oluwayemi, the past editions of this programme have proven that this process can deliver solutions to citizens at least three times faster at 80 per cent lower cost by leveraging smart solutions and avoiding re-invention.
The statement informed that from May 14 – 16, leaders of the 22 partner cities and the 120 nominated solution providers will come together at the LLGA/Cities Summit in San Francisco to deepen their partnerships, announce the 22 most promising solutions, debate their challenges and kick-start implementation.
Citymart.com/LLGA is the organisation in charge of the programme. It is a global marketplace for cities; it is based in Copenhagen in Denmark and Barcelona in Span. The organisation has worked with more than 80 cities and 1,200 companies, NGOs and research centres in Europe, Africa, Asia and the Americas.
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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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