Business
Abia To Revive Ailing Industries, Address Unemployment
Governor Theodore Orji of Abia says his administration is set to revive ailing industries in the state to address youth restiveness and unemployment.
He said in Abuja on Sunday that companies that would be revived include Golden Guinea Breweries Ltd. and the state’s glass industry in Aba, among others.
“We have set up an agenda that will keep our people busy, especially the youths. One of those ways of doing this is to revive some of the moribund industries that we have in Abia State.
“We have the Golden Guinea Breweries Limited that used to produce larger beer, stout and soft drinks and that industry employed a lot of people but it has been moribund for a number of years now.
“We have put up a machinery to revive it. When we revive it, people will be employed, there will be job for people and food will come through job creation; wealth will be created.’’
Gov. Orji also spoke of the state government’s plans to revive and expand the Aba-based glass factory, which produces nearly 85 per cent of the pharmaceutical bottles used in the country.
“That factory is functional, but we want to expand it to the extent that it can start producing windscreens for cars, vehicles because we have the raw material, which is sand that is just gotten from the Aba River and Azumiri main river.
“That is another industry that we are expanding to employ our people.’’
Oji said, however, that the state government was delaying the commencement of operations at the state’s modern ceramics industry because of some initial technical problems relating to the partnership it entered into with the Catholic Church.
“They would have opened the industry but for the initial problem they are having, which they are trying to sort out now.
“The initial staff they employed was about 1,000 people and they were about making more employment until the economic downturn, but they are now trying to take off and be on stream.’’
According to the governor, youth unemployment has been identified to be responsible for the escalation of kidnapping in the state in recent times.
He said that in a bid to end the trend, his administration would work diligently to provide employment for the people of the state, especially the youth.
“When people are unemployed, when the youths are not doing anything and there is poverty everywhere, then the people can go out of their ways to do funny things,’’ he said.
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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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