Business
Develop Non-Oil Sector, Analyst Tells NDDC Board
The newly inaugurated board of the Niger Delta Development Commission (NDDC) has been charged to develop the non oil sector in order to create more employment opportunities for the region
An Environmental analyst, Mr Pedro Akpaka, gave the charge in an interview with newsmen in Port Harcourt, at the weekend.
He said development of the non-oil sector would not only enhance employment opportunities, but will attract investors to the area.
Akpaka, noted that if the non oil sector was properly developed, both revenue enhancement and new industries would be visible in the area.
According to him, areas like cassava and fish production should be considered in the attempt to leap frog the non oil sector.
The activate maintained that the issue of agitation must be relaxed, if the drivers of the commission pay prime attention to job creation.
He was of the view that the best way to handle restiveness in the Niger Delta was to engage the young people meaningfully and not to wait for amnesty.
He also tasked the management to look inwards to ensure that all drain-pipes for illegal financial transactions were closed so as to earn for itself a better name.
He reasoned that since the board was inaugurated to work towards the development of the area, such should also top their agenda and not seeking personal benefits.
On the members of the board, he said that they are square pegs in a square holes, saying that they must not disappoint the people.
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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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