Business
Rail Transport Can Create 10,000 Jobs Yearly- Union
Rail transport can create 10,000 jobs annually, if revived, says Mr Raphael Okoro, the President, Nigeria Union of Railway Workers (NUR).
Okoro told newsmen in Abuja yesterday that reviving the system was “very possible”, if government mustered the political will to create a functional and effective railway system.
According to him, the rail system is very key to the growth of every nation even though it is capital and labour intensive.
Okoro, therefore, advised the government to make the revival of the rail system a priority, stressing that if government spent N20 billion on one road, It would soon go bad due to the weight of the goods.
Such goods, he said, could best be transported by train.
He further said that gridlock could also be reduced to the barest minimum, if the number of trucks and tankers on the roads were minimised.
Okoro noted that the Jonathan administration had a good plan for the railway system with Lagos alone having a total number of 16 trains transporting people on a daily basis.
According to him, the railway projects were stalled because the funds were diverted to other projects.
While urging the Buhari administration to embark on massive rail projects, the labour leader also canvassed for an upgrade of the rail system to standard gauge in line with global best practice.
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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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