Business
LG Boss Tasks Farmers On Improved Harvest
The chairman, Ikwerre Local Government Area of Rivers State, Engr. Samuel Nwanosike has charged farmers in the area to deploy all of their resources into their farms for improved harvest and proceeds.
Nwanosike gave the charge at the Back to Farm Initiative empowerment ceremony, Saturday in Aluu community of the area.
The chairman noted that 50 beneficiaries, who were empowered were selected from each of 13 wards in the LGA, saying that “this is the first batch. We intend to fulfill our electioneering campaign promises, one of which is to develop the farming sector of the ceremony.”
He explained that each person will be given N1 million and urged the farmers to deploy the money into farming activities.
Nwanosike used the opportunity to announce to the people of the area that electricity power supply will be restored to the 14 communities in the LGA that have been in total darkness by the end of September.
He pointed out that there has been power outage due to vandalism by unscrupulous persons in the area.
According to him, “let me use this opportunity to announce to you that as we speak, efforts are being made to restore power supply to the 14 communities and connect them to the National Grid.
“Already, the Ikwerre local government council has paid their part of the counterpart fund for the rehabilitation of power lines that had been destroyed.
“They have commenced erection of poles and crossing of the wires. In less than no time, electricity will be restored to the 14 communities, he said.
Tonye Nria-Dappa
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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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