Business
Groups Pledge To Advance Budgeting Process In N’Delta
Civil Society Organisations in the Niger Delta have pledged to work together to advance the process of budgeting transparency and accountability among local government councils in the region.
This was contained in a communiqué made available to newsmen at the end of a three day meeting by civil society organisations in Port Harcourt.
According to the communiqué, local based groups across the Niger Delta arose from three day meeting in Port Harcourt endorsing the use of advocacy for transparency and accountability to end poor budget performance in local administration and achieve grassroots development in the region.
The meeting also urged elected officials of local government councils in the region to do more by addressing the development needs of the people.
The meeting was attended by people from several communities who were empowered through capacity building trainings under the Strengthening Transparency and Accountability in the Niger Delta (STAND).
Addressing Mr Joseph Croft commended the groups for pledging to work together to advance transparency and accountability in the region.
Mr Croft who is the Executive Director of Stakeholder Democracy Network (SDN) urged for the meeting to be sustained.
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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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