Business
Plateau To Generate N14m From Pack, Pay Project
The Jos Metropolitan Development Board (JMDB) says it is targeting to generate N14 million annually from its pack and pay project which began operation last Monday.
General Manager of the board, Mr Mathaias Hata, disclosed this to the press last Thursday in Jos.
Hata said that the operation, which has been contracted to a consultant, would help to increase the internally- generated revenue of the state.
He said that the project would also help to manage the chaotic traffic situation in the city centre due to street trading.
According to him, street trading has reduced the aesthetic value of Jos, which is popularly known as little London by many foreigners and tourists.
“The project will hopefully return the aesthetic value of the metropolis and address the challenge posed by street trading.
“The parking lots are usually used by traders and hawkers and our several attempts to correct this in the past had failed.
“But this project will help to put a check on all these,’’ the general manager explained.
Hata told The Tide source that the project would also put into consideration some insecurity issues within the metropolis and urged residents to cooperate with the board by paying for parking spaces.
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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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