Business
Herdsmen Attacks: Farmers Seek Compensation
Nigeria Cassava Growers
Association has appealed to the Nigerian Agricultural Insurance Corporation (NAIC) to compensate farmers whose insured farmlands were destroyed by herdsmen in various states.
The president of the association, Pastor Segun Adewumi, made the appeal in an interview with newsmen recently.
Adewumi lamented that most of the destroyed farmlands were set up with huge loans from banks collected by some members of the association.
According to him, those loans are due for repayment but the farms which were supposed to yield returns for the offset of the loans have been destroyed by herdsmen.
The national president said that the association had written to NAIC for compensation but had yet to receive positive reply.
“We insured our farms across the nation with NAIC.
“We wrote to NAIC and presented those whose were affected by the clash but they wrote to us and told us that the insurance does not cover malicious damages.
“So we are on our own and then the banks are expecting the repayment of the loans,” he said.
He said that flooding was also one of the major setback being experienced by some cassava growers across the country.
Adewumi said the association was yet to enumerate the level of damage caused by flood to their farms in 2016.
The national president appealed to the Federal Government to urgently tackle the issue to encourage more yields.
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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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