Business
ECOWAS To Fund Electricity Projects In Niger
The ECOWAS Regional Centre for Renewable Energy and Energy Efficiency will fund electricity power projects across Niger State in line with its mandate.
Alhaji Abdullahi Wuse, the state Commissioner for Justice, disclosed this in Minna on Tuesday while briefing newsmen on the outcome of the visit of government officials to the centre in Cape Verde Republic.
He said that the regional body would provide 90 per cent of the funds needed for the projects while the government would provide the balance of 10 per cent.
Wuse listed some of the projects to include the small hydro power station at Gurara Falls expected to produce 10 mega watts of electricity and 5 mega watts solar energy across the state.
The commissioner also named 20 small solar energy facilities for schools, health facilities and other public places as one of the projects.
Wuse said the Centre had approved consultants who would carry out state-wide feasibility study of the hydro and solar potentials of the state as prerequisite for the commencement of the projects.
He said the government would soon sign its own copy of the Memorandum of Understanding (MoU) for the execution of the projects.
Wuse said that during the visit of the delegation of the state government to Praia, the capital of Cape Verde, the Executive Secretary of the Centre, Mr Mahama Kappiah, signed a copy of the MoU.
The commissioner said the cost of the projects would be ascertained after the consultants had completed the feasibility studies.
“The government will honour its side of the agreement owing to the importance of the projects to the development of the state,’’ Wuse 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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