Business
Sokoto State Agriculture Firm To Establish N2.5bn Dairy Farm
The Sokoto State Govern
ment is to build a N2.5 billion dairy and meat production farm in conjunction with an Argentine firm.
The Commissioner for Information in the state, Malam Danladi Bako, announced the plan to newsmen on Wednesday on the outcome of the State Executive Council meeting in Sokoto.
He said that the project, to be located in Rabah, headquarters of Rabah Local Government Area, would be completed in four months.
Bako said the company would include a large-scale mechanised farm, aimed at providing employment for the youth.
He said that the government would provide 60 per cent of the funds, while the firm would contribute 40 per cent.
“The state government has released one billion naira as part of its counterpart contribution to the project,” he said.
Bako explained that some components for the project had been delivered in Sokoto.
“The site acquired for the factory will soon be cleared.
“When the project is completed, the state will have enough food for local consumption and for export.
“It will also boost the state economy and serve the need of the people and encourage mechanised agriculture.
“This will subsequently lead to the exportation of milk and meat to neighbouring countries,” the commissioner said.
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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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