Business
Lagos Senator Empowers 1,000 Youths
Member representating Lagos East Senatorial District, Senator Gbenga Ashafa has empowered over 1,000 artisans with a number of vocational equipment to enable them start small businesses in the face of unemployment among the youth.
The lawmaker while making the donations recently in Lagos said he was worried by the rate of unemployment among graduates and artisans in his constituency.
He said the multi-million Naira worth items given to the residents of Ibeju-Lekki Local Government Area was intended to check the lack of basic tools that would engage them in their chosen vocation.
He called on well meaning Nigerians to embark on aggressive empowerment of people to eradicate poverty in the country.
Presenting the tools to the 500 beneficiaries and financial grants to stalwarts of the All Progressive Congress (APC) comprising of 500 women in the LGA, Ashafa said the time has come to rescue the downtrodden.
According to him, the beneficiaries were empowered with tools to aid their trade, adding that hair dryers and barbing kits as well as gasoline generator sets were given to a hair dresser and barbers.
Among the items donated were deep freezers, vulcanizing machines, sewing machines and provision of financial grants to 500 women party members in Ibeju-Lekki LGA and Lekki LCDA.
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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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