Business
ECOWAS Official Urges Investment In ICT
ECOWAS Commissioner
for Telecommunications and Information Technology, Mr Isaias Barreto de Rosa, says investing in the sector will contribute to the rapid development of the region.
Barreto da Rosa made the statement in an interview with newsmen in Abuja.
“Today, information and communications technologies are everywhere and very critical, especially in the development of any nation in whatever sphere .
“ If you analyse any sector of the economy, you will find that you need information and communications technology today to drive development, ” he said.
The commissioner noted that strong telecommunication and information technologies would contribute to changing the people’s lives in unprecedented ways to bring about better living conditions.
“Telecommunication and information technology could lead to good governance, better health conditions, and contribute to the efficiency of the companies with the attendant expectations of better results,’’ he said.
He also said that investing in the sector in the region would also reduce communication costs.
Barreto da Rosa noted that naturally, poor information technology infrastructure had made telecommunication costs to become extremely high in West Africa.
“Today, due to lack of proper information technology infrastructure in the region, if you want to communicate with a neighbouring country, you often have to go through the submarine cable.
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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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