Business
Yam Festival Promotes Food Production – Monarch
The Gbememene of Tai, King Godwin Giniwa has said that the significance of new yam festival is to encourage farming and promote food production in the community.
King Giniwa who stated this recently during the 2014 new yam festival expressed gratitude to God for this year’s productivity, adding that they were working on Industrialising the area.
The king reminded the people that the new yam festival was as old as the community, adding that the people should always observe it.
He also said that the 2015 festival would be more remarkable than ever in the history of Tai.
Also speaking, Mene-Zim of Tai, Chief Elder Clement Ngbor said new yam festival was very important to the indigenes of Tai local government, stressing that tradition demanded that the festival should always be observed in the month of August every year.
He said the celebration was always associated with good harvest, increased in child bearing and also foster peace and unity among the people of the area and beyond.
He further said that the festival observed was called “PIEMA – DEESORN” which allows families to celebrate and usher their children into manhood.
An elder in the community, Elder Sunday Nkporde said he was born into the festival and called on the youths to maintain the tradition.
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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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