Business
Stakeholder Advises Govts On Beach Tourism
The Chairman, Tourism Committee of Lagos Bar Beach, Mr Effiong Ekanem, on Tuesday advised all tiers of government to expand the coastlines across the country, to increase investment in beach tourism.
Ekanem told newsmen in Lagos that the expansion would attract more investors and project the country as tourists’ destination.
According to him, beach tourism is a major investment by many countries across the globe.
“Nigeria is endowed with a vast coastline, spread across the country, which has been lying untapped.
“Government should make more efforts to expand the coastlines as a means of attracting tourists and generating foreign exchange for the country,’’ Ekanem said.
He said that more effort should be made to upgrade the existing beaches to international standard.
Ekanem advised that safety measures to safeguard human lives and properties along the coastlines, should be implemented in all beaches nationwide.
He also urged government to hasten infrastructure development across the country, adding that advanced infrastructure would augment tourism development.
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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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