Business
FG Restates Commitment To Create More Jobs
The Minister of Science and Technology, Dr Ogbonnaya Onu, has restated Federal Government’s commitment to create more jobs through industrialisation.
Onu said this in an interview with newsmen after inaugurating a leather cluster workshop at the Nigerian Institute of Leather and Science Technology, Light Leather Manufacturing Centre, Sokoto, on Monday.
“We have the capacity to create millions of high quality jobs that will last for life time, and as such, bring in Nigerians to do more research and commercialisation.
“Moreover, the reason the ministry of science and Technology concentrates more on the textile and leather, is that we want to industrialise Nigeria.
“We want industries to spring up in different parts of the country. We want our industrialisation process to be universal,” he said.
Onu noted that there was a time Nigeria was assembling all types of vehicles, but has now collapsed as it was not backed-up with the necessary skills and research.
He added that the ministry would continue to discourage the exportation of materials that are valuable to the country and encourage finished products to add more value on production.
Earlier, the minister in a condolence visit to Gov. Aminu Tambuwal on the demise of former President Shehu Shagari, said that the inaugurated cluster workshop had the capacity of training 100 persons at a time.
He said that the established cluster was aimed at developing additional skills for the actualisation of the nation’s industrialisation drive.
Responding, Gov. Tambuwal thanked the minister for the visit and assured him that the state government would continue to complement Federal Government’s commitment in industrialisation.
He said that Sokoto state government had since signed an agreement with the Pan African Enterprises, a subsidiary of Green Park Worldwide in London, UK, for the establishment of Sokoto Tannery and Sokoto Shoe Factory.
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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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