Business
Nigeria Backs Canada On ICAO Headquarters
Nigeria has expressed support for Canada to retain the headquarters of the International Civil Aviation Organisation (ICAO) in Montreal, Canada.
A statement issued by the Ministry of Foreign Affairs in Abuja, said that the Minister, Mr Olugbenga Ashiru, gave the assurance in Abuja when he received the outgoing Canadian High Commissioner to Nigeria, Mr Chris Cooter.
The Tide learnt that Qatar had been campaigning that the civil aviation headquarters be moved from Montreal to Doha.
The aviation body, a UN agency, had been based in Montreal since it was created in 1947.
Ashiru was quoted in the statement as saying that: “Nigeria will support Canada in the ICAO headquarters issue.
“Nigeria and Canada are strong strategic partners, who must always support each other.”
The statement also quoted Ashiru as thanking the Canadian government for donating 10 million dollars to the African-led International Support Mission to Mali (AFISMA).
On security, the minister assured the envoy that the Nigerian government would work hard to bring the perpetrators of the recent violence in Baga in Borno and Nasarawa to justice.
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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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