Business
‘Recession Not Excuse For Corruption’
A clergyman and
Pastor of the Dunamis International Gospel Centre, Lafia, Nasarawa State, Raphael Sunday, yesterday, urged Nigerians, especially those in public office and civil service not to use current recession to engage in corrupt practices.
Instead, he advised that people should remain faithful and prayerful to ensure that the economic challenge was overcome.
According to the clergyman, in his sermon entitled, “Exaltation and Elevation by Righteousness’’, it is through faithfulness, righteousness and prayer that the country could overcome all of its problems.
“In this season, the tendency to compromise and give in to the antics of the devil is very high.
“However, as Christians and Nigerians, we need to be more faithful now than ever for God to hear our prayer and heal our land of all forms of challenges,’’ he said.
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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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