Business
C’River Assembly Decries MDAs’ Low Revenue Profile
The Cross River State House of Assembly has frowned at the inability of some Ministries, Departments and Agencies (MDA’s) to meet their revenue generation expectations.
Chairman, House Committee on Agriculture and Natural Resources, Mr Charles Ekpe, expressed the concern at an oversight meeting with the state’s Forestry Commission in Calabar.
Ekpe, representing Akamkpa II state constituency in the assembly, said that the meeting became imperative following some MDA’s inability to generate the expected revenue to develop the state.
He explained that the meeting was also held to seek reasons for the low revenue generation and proffer solutions for improved performance.
“We are all witnesses to the fact the revenue generation from some MDA’s in the state is low.
“ We decided to hold this meeting with a view to hearing from the agencies, what their challenges are to help us find ways for better performances,’’ he said.
In his response, the Chairman, Cross River Forestry Commission, Mr Bette Obi, told the lawmakers that the greatest challenge facing the commission was the total ban on logging by the state government.
Obi, however, pleaded that the ban be reviewed to enable the commission carry out its function of effective forest management in the state.
He said that if royalties were paid to communities, the issue of illegal logging would be eradicated because the communities would be committed to protecting the forests by themselves.
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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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