Business
Govt Gives 40 Rice Farmers N20m Lifeline
The Gombe State Government assisted 40 rice farmers with N20 million to boost their production in 2015.
The leader, Rice Farmers Association in Gombe state, Alhaji Baban Kaye, disclosed this on Tuesday in an interview with newsmen in Gombe.
According to him, this is to assist the farmers to boost their rice production in the state.
Kaye explained that Gov. Ibrahim Dankwambo of Gombe assisted their members with this sum of money, adding that each of the 40 farmers got N500, 000.
He said that this money would impact positively on the farmers’ businesses and also help them to improve on their yields and revenue.
He attributed the success in the sector during the last year farming season, to more enlightenment; provision of improved seeds, financial assistance, and commitment of the farmers.
Kaye advised the beneficiaries to always double their efforts to produce quality rice and assist their business partners.
According to him, the qualities of rice produced by their members are up to standard and cheaper than the foreign rice.
The leader explained that many people prefer locally produced rice to foreign ones.
He added that the locally produced rice was also exported to neighbouring countries like Cameron, Chad and other states of the federation.
Kaye called on the government at all levels to continue to assist farmers for economic development of the state and the country at large.
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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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