Business
Ministry Urges Nigerians To Inbibe Quality Culture
The Minister of State
for Industry Trade and Investment, Dr Sam Ortom, has called on Nigerians to make standard their target.
The minister said this at Standard Organisation of Nigerias zonal stakeholders forum on Blocks and Allied product last week in Lagos.
Ortom, said the call was mainly for those in the building and construction industry.
He urged Nigerians to learn how to seek redress against any producer of sub-standard material, adding that they should make high quality their watch- word.
He stressed that all cements manufactured in the country must bear the standard as prescribed by SON.
He noted that SON must rise to the occasion and implement the policy of standards for all manufactured products in the country in a bid to get thing right.
Also speaking, the Director – General of SON, Dr Joseph Odumodu, recalled that Nigeria ranks among the nations with the highest rate of building collapse in the world.
He pointed out that his commission has concluded plans on how to addressed block moulders in a bid to check the situation. According to him, the agency may be forced to pull down some buildings that are proven to be faulty after carrying out its assessment on such property.
Odumodu, also hinted that SON will soon kick-start what he called certification of blocks in the country as a support to its target.
He was of the view that most building collapse in the country are as a result of poor quality and sub-standard blocks and other materials used in such construction.
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Business
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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