Business
Egi Youths Benefit From NNPC/TEPNG Scheme
About 285 beneficiaries from Egi communities in Ogba/Egbema/Ndoni Local Government Area of Rivers State have graduated from the NNPC/TEPNG Joint Venture Skills Acquisition Programme which is part of the company’s capacity building of youths from her host communities.
The Deputy Managing Director, Total E&P Nigeria Limited, Mr Nicolas Brunet disclosed this during the graduation ceremony of the 9th batch of beneficiaries at Obite Civic Centre.
He said the skills initiative was intended to provide the youths with sustainable means of livelihood, through the application of specialised skills and small scale enterprise development. He pointed out that the scheme, was part of the company’s socio responsibility for peaceful operations in the host communities.
He tasked the beneficiaries to put their skills in profitable use to improve their living standards and that of their immediate families. The areas of skills training includes; Catering, Computer Operation, Welding, Fashion and Designing, Hairdressing, Plumbing, and Electrical/Electronic.
In his remark, the chairman of the Egi Council of Traditional Ruler and Chiefs, High Chief Shedrack Orikoya, who chaired the event, thanked the management of Total E&P for the gesture, and called on the beneficiaries to make judicious use of the opportunities provided.
Also speaking the President Egi Women Association, Mrs Ngozi Jacob, thanked the company for the training, and assured that the beneficiaries will avail themselves with the offer to better their lots.
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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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