Business
GEEP: FG Targets 46,000 Beneficiaries
The Federal Government says it is targeting 46,000 beneficiaries in Jigawa State under its Government Enterprise and Empowernlent Programme (GEEP) .
The Coordinator of the Federal Government’s Special Intervention Programme (SPI) in the state, Mr Bala Usman, made this known while speaking to newsmen in Dutse on Friday.
According to Usman, the selection process has commenced, with a view to selecting beneficiaries for the programme.
“The GEEP has a target of about 46,000 beneficiaries in the state and the selection process has also begun,” Usman said.
He explained that to access the loan, a beneficiary must belong to a registered Cooperative Society.
“The process of election provides that beneficiaries must come under a platform of cooperative society to enjoy the loan,” he said.
The coordinator added that the SPI office in the state had so far received the names of more than 15,000 individuals, who applied for the loan under different cooperative societies.
According to him, the SPI office is also liaising with its coordinators in the 27 local government areas of the state to mobilise more interested groups to apply for the loan.
Usman further noted that the amount being charged by the state Ministry of Commerce to register cooperative groups had been reduced from N4,200 to 2,500.
“The registration fee of cooperative groups under this programme (GEEP), was reduced to N2,500 from N4,200 being collected by the ministry of commerce,” Usman said.
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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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