Business
SON, EU Trade Mission To Strengthen Relations
An EU trade delegation to Nigeria led by Mr Peter Thompson has expressed its readiness to strengthen relations with the Standards Organisation of Nigeria (SON) in areas of mutual interest.
A statement made available to newsmen in Abuja on Sunday, said that the delegation stated this during a visit to Dr John Akanya, the Director-General of SON.
According to the statement signed by SON’s spokesman, Mathias Bassey, Thompson raised questions on international cooperation between SON and other international organisations.
It quoted him as seeking to know the role of SON in Nigeria’s economy in relation to the standard of goods from other countries.
The statement said that the team’s interest centred on how well trade could be enhanced among nations, particularly in the acceptability of goods in relation to standards.
According to the statement, Thompson directed the Country Director to liaise with SON for further discussions on the issues and other related matters.
In his response, Akanya pledged the readiness of the organisation to collaborate with the team.
The statement quoted him as saying that “as a standards body, SON is faced with various challenges such as well equipped laboratories for analyses, funds and tools to work with, including manpower and capacity building”.
Akanya noted that in spite of the shortcomings, SON still played a brotherly role to other West African countries by assisting them in capacity building and setting up their standards bureau.
It quoted Akanya as saying that SON needed equipment to enable it meet up with the challenges posed by technological development.
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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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