Business
Sahara Power Promises More Investments In Human Capacity
The management of Sa
hara Power has recently restated its commitment to sustain human capital development investments in Nigeria’s power sector.
In a statement signed by the Head, Corporate Communications Unit, Mr Bethel Obiora, the company said that it would ensure enhanced productivity and seamless skill transfer.
The Tide reports that Sahara Power comprises Egbin Power Plc, Ikeja Electric (IE) and First Independent Power Ltd (FIPL).
The company’s Managing Director, Mr Kola Adesina, said in the statement that positive outcome from the company’s Graduate Engineering Programme (GEP) had set the foundation for increased funding to drive sundry capacity building initiatives.
Adesina, who spoke at a strategy session tagged: “Human Capital Development in Nigeria’s Power Sector’’, said that the programme would help address the gulf created by an ageing workforce in the sector.
“Industry experts say the dearth of young engineers and technical staff remains a huge challenge for the sector.
“The sector needs about 50,000 young skilled engineers, craftsmen and fitters to replace the ageing workforce according to a recent report released by the National Power Training Institute of Nigeria (NAPTIN).
“The GEP currently has 100 young graduate engineers spread across Egbin Power, IE and FIPL.
“These engineers are being trained by seasoned Nigerians and foreign professionals under the scheme which also involves local and overseas exchange programmes,’’ he said in the statement.
Adesina said that Sahara Power‘s management had set aside substantial funds to drive a holistic human capital policy that would cater for the specific needs of all employees within the organisation.
He said that the unfolding “people success story’’ at Sahara Power was predicated on strategic re-engineering and re-orientation activities designed to enhance capacity and efficiency.
“We will definitely set aside more funds for capacity building as we see Sahara Power as the future hub of power sector experts on the continent,’’ Adesina 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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