Business
RSG Launches Mother Earth Tree Planting Project, August
The Rivers State Government says the proposed Mother Earth Tree Planting Project will be launched by August this year.
The Commissioner for Environment, Dr Nyema Weli, who said this while briefing representative of construction companies in his office, urged them to participate in the campaign, Dr Weli said that the campaign will involve the planting of economic trees along Major roads in Port Harcourt City and ornamental trees by households in the city.
He urged the companies to collaborate with government in achieving the project, which according to him, was aimed at checking flooding and restoring the aesthetic scene of the state as well as releasing fresh air on the environment.
The commissioner said that the minister has already solicited the support of such corporate entities such as the Shell Petroleum Development Company of Nigeria (SPDC), Nigerian Agip Oil Company (NAOC), Total E&P Nigeria, among others adding that each of them has taken up some major parts of the city.
Responding , the representative of Reynold Constitution Company (RCC), Mr Andrey Suslaich described the programme as laudable.
He, however, called for more sensitization of the people, stressing that they have carried out such projects along the constructed roads, adding that such effort were unsuccessful as the trees were usually destroyed by the people.
Among the companies that attended the meeting includes , RCC, LCC JDP and Gitto.
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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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