Business
Gombe Assembly Passes N107.7bn 2014 Budget
The Gombe State House of
Assembly has passed the state’s N107.7 billion Appropriation Bill for 2014.
The budget was raised by the lawmakers from N107.4 billion as submitted to them by Governor Ibrahim Dankwambo on December 28, 2013.
This is contained in a statement issued by the legislature’s Chief Information Officer, Alhaji Abubakar Umar, and made available to newsmen in Gombe.
The statement explained that the increase stemmed from consideration given to some areas that were not “properly captured” in the bill.
According to it, Gombe Housing Corporation was omitted, new boarding secondary school at Boltongo, and three new roads from Ngajin Bauchi to Abuja-Jauro and Gambo were not properly captured.
“In view of these, a lot of adjustments were made.
“It brought about a shift in the budget size from N107.453billion to N107.79billion, giving a difference of N345.07million’’, said the statement.
It added that capital expenditure of N64.1 billion took the higher share of the budget while recurrent expenditure was N50.8 billion.
The statement said the Speaker of the Assembly, Alhaji Inuwa Garba, commended the lawmakers, especially the members of the appropriation Committee, for a diligent scrutiny of the bill.
The speaker was quoted as calling on ministries, departments and agencies to ensure effective implementation of the budget in order to deliver dividends of democracy to the people.
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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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