Business
Institute Tasks Food Scientists On Raw Produce
The Nigerian Institute of
Food Science and Technology (NIFST) has urged food scientists to create wealth through conversion of raw produce into value added products.
The appeal is contained in a statement by NIFST’s President, Dr Chijioke Osuji, and made available to newsmen in Lagos.
According to the statement, in creating wealth through the conversion of raw produce into value added products, certain measures need to be in place to prevent post-harvest losses.
“Attaining high volumes of production of various commodities could easily be counter-productive if measures are not in place to prevent post-harvest losses.
“And this can be done by creating wealth through conversion of raw produce into value added products,” it said.
The statement said that there was need for measures to be taken as the issues of food and agriculture were the topic of discussion in this year’s political campaign.
It said that the trend would likely continue in the coming years as the revenue from petroleum continues to fall below the budget estimates.
It urged food scientists and technologists to appreciate that the increasing economic relevance of agribusiness demonstrated a huge widening of opportunities throughout our food commodity value chains.
The statement also urged food technologists and partners to move fast to ensure utilisation of the food produce and take advantage of the developing trend.
“The dwindling cost of petroleum products implies reduced cost of operation for food companies and improved profits.
“So, food business now has a good chance for growth as well as innovative and knowledge-driven development if well planned,” it 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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