Business
FCT Plans Strict Monitoring Of Projects
The FCT Minister, Sen. Bala Mohammed, says his administration will ensure strict monitoring of projects in area councils.
The minister said this on Wednesday at his maiden meeting with directors in the FCTA and FCDA as well as parastatal agencies under his jurisdiction.
“I implore the FCT Minister of State, retired Navy Capt. Caleb Olubolade, to be hard on the area councils in terms of monitoring their programmes and projects because area councils are lagging behind in terms of development.
“Abuja, at this time in history, will be built at the pace of the transformational agenda of President Goodluck Jonathan and any member of the top echelon of the administration unable to meet up will be shown the way out,’’ he said.
Mohammed also charged staff members to work as a team, saying each worker was a leader in the work force.
He stressed the need for institutional re-positioning to sustain government programmes and projects.
Mohammed further promised to create jobs for youths in the territory, adding that a new strategy to ease transportation in the city was underway.
In his remarks, Olubolade assured residents of the territory of quality service delivery, vowing that all municipal challenges would be overcome.
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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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