Business
LASG Seeks More Investors In Waste Management
The Lagos State Government has said it required more investors in waste management to further improve the environmental sanitation of the mega city.
The Commissioner for Economic Planning and Budget, Mr. Ben Akabueze made the disclosure in Lagos at a roundtable business meeting organised by the Sam Ohuabunwa Foundation for Economic Empowerment.
He said that the need for proper waste management was imminent due to the growing population of the state.
“Lagos generates about 10,000 metric tonnes of waste per day.
“Lagos has a challenge of population which is more than some of the smallest countries in Africa.
“This is the reason why we need a boost in the Public Private Partnership (PPP) that we have laid down in that sector.
“Lagos needs not less than 1,000 waste trucks and presently we have just about 700 out of which 200 are most times unavailable or faulty.
“We therefore need more investors to partner with the government in the provision of more trucks and others,” he said.
Akabueze also decried the major environmental pollution that come from trucks that enter into Lagos daily.
“Eighty per cent of the nation’s freight is managed in Lagos while about 5,000 trucks come into Lagos daily.
“All these constitute environmental pollution and we are not getting any portion of the taxes for maintenance,” 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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