Business
Chemical Engineers Set To Dev Solid Minerals
The Nigerian Society of Chemical Engineers (NSCE) says it is working for the development and actualisation of developing solid minerals in the country.
The National President of the association, Engr. Sam Adefila, who stated this last Friday in a press briefing in Port Harcourt to commence the 47th Annual Conference/AGM of NSCE, said lack of research and development in oilfield chemicals has robbed the nation of enormous opportunities to create jobs, generate new knowledge and develop skills.
Adefila noted that research and development fuel the engine that powers a nation’s economy in this knowledge-based globalised economy of the 21st century.
He commended the efforts of the Nigerian Content Development Management Board (NCDMB) to constitute a research and development council for the oil and gas industries, stating that it would integrate research initiative of stakeholders and steer them towards achieving tangible and beneficial outcomes.
According to him, “Design and fabrication of facilities in the country is another area that should be pursued vigorously.
“Design and fabrication of pressure vessels, reactors, heat exchangers and steel pipes of various grades, specifications and sizes will improve the GDP of the nation’’, he said.
Adefila noted that the NSCE was working to realise her dream whereby 100 per cent of her needs in the petroleum industry are produced locally.
He also said the society was making research to ensure that 100 per cent of her needs in the process industries, starting from fine chemicals such as inorganic and organic acids were produced locally to feed the agrichemicals and agrochemicals industries, pharma-chemicals and pharmaceutical industries.
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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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