Business
MTNSpends N10bn On Corporate Social Responsibility In 7years – Official
The MTN Foundation
said that it spent over N10 billion in the execution of various Corporate Social Responsibility projects in the last seven years across the country.
The Customer Care Manager of MTN in North Central Zone, Mr Bashir Jegawa, made this disclosure in Sokoto at the inauguration of a motorised borehole constructed by the foundation in Dambuwa community in Dange Shuni Local Government of the state.
According to Jegawa, the projects embarked upon by the foundation ranged from Health, Education to the Economic Empowerment of Nigerians.
“The gestures by the foundation were aimed at complementing the efforts of the three tiers of government in the country.
‘’The developmental strides of the nation should not be left to the government alone,’” he added.
Jegawa further said that the borehole project was aimed at alleviating the water supply problems confronting the community.
He urged the residents of the area to ensure the community ownership of the project.
‘’This should be done by preventing it from being vandalised, as well as ensure it routine maintenance,’’ Jegawa urged.
The District Head of Dambuwa, Alhaji Shehu Abubakar, who spoke through Alhaji Muhammadu Danbaba, commended the foundation for the gesture.
The project included a borehole, overhead tanks and a generating set, among others.
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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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