Business
FG Flags Off N22.7bn Road Project In Adamawa
The Federal Government has flagged off the rehabilitation of the 122 kilometre Mayo Belwa-Jada-Ganye-Toungo road in Adamawa which will cost N22.7 billion.
The Minister of Power, Works and Housing, Mr Babatunde Fashola, (SAN) disclosed this in a statement by the Director of Information in the ministry, Mr Theodore Ogaziechi,.
Fashola, represented by Alhaji Mustapha Shehuri, the Minister of State 1 in the ministry at the occasion marking the commencement of the project, said the road was due for rehabilitation.
He said that the road constructed in 1999, was currently in very deplorable state with several failed sections, potholes, alligator cracks, depressions and washouts at the edges.
The minister added that the road was also an important economic route linking major farming communities of Mararaba, Jamtari, Jada, Dashen, Ganye, Toungo and neighbouring Taraba.
He said that the project, expected to be completed in 36 months, would involve the reconstruction of the 112 kilometre road with 7.3 metre carriageway width and 2.75 metre shoulders.
According to him, the carriageway will be overlaid with 60mm asphalt concrete binder course, 40mm asphalt concrete wearing course with pavement of 200mm thick and 200mm stone base.
The Governor of Adamawa, Bindow Jubrilla, commended the federal government for the project, adding that it would no doubt, increase investment in rice production and livestock farming in the state.
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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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