Business
A’lbom Targets Agric Cargo Airport
The Akwa Ibom State Government has said that the target for the airport being built by the state government is to make it an agricultural cargo airport.
Speaker of the state House of Assembly, Rt.Hon Onofiok Luke who disclosed this to newsmen in an interview at the Port Harcourt International Airport, Omagwa, last week said that the idea that the state government had on making the airport an agricultural one was still being pursued vigorously.
He said that the Akwa Ibom State Government, under the able leadership of Governor Udom Emmanuel is trying to ensure that the airport being built by the state government becomes a major hub for agricultural produce activities.
According to him, the state government requires the backing of the federal government towards fulfilling the goal, adding that the airport is waiting for the approval of the federal government to be able to carry out its functions in earnest.
“The plan to make the airport a cargo airport is on course. We need the backing of the federal government. Other activities at the airport are waiting for approval of the federal government to take-off in earnest.
“We want to make a comparative advantage, and we see the our state is purely agricultural state, and government is investing heavily on agriculture.
“We are trying to use the airport for export of agricultural produce, and it will be a cargo airport for agricultural produce like grains and seeds, and at the end of the day, it will be a major hub for agricultural produce”, he said.
Corlins Walter
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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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