Business
Association Wants Law On Fisheries
The Rivers State
Chapter of the Fisheries Society of Nigeria (FISON) has urged the state House of Assembly to enact the fisheries law with a view to assisting fish farmers from the State across the Food and Agricultural Organisation’s (FAO) grants.
Speaking to The Tide in Port Harcourt on the new year, the State chairman, FISON, Dr. Awotein George, said that the state had no law that would enable fisheries farmers access the FAO grant, stressing that without the necessary fisheries law enacted by a state House of Assembly, the association members cannot access the grant.
George said such grant has not been possible to the fish farmers in the State, stressing that the grant was usually to encourage formation of agricultural cooperative societies.
The FISON chairman said the state had a very conductive environment for agricultural activities to strive with fertile soil and a lot of water surrounding the various communities in the state.
He appealed to the state government to subsidise feed to farmers in the state as more than 70 per cent of the cost of fish production goes into feed.
He decried the importation of ice fish in the country which he said was being consumed today in the remotest creeks in the coastal communities.
George advised government to invest a huge part of the oil revenue on agriculture because it was more sustainable in nature, stressing that oil is not a sustainable source of national income as it will diminish and fizzle out.
Philip Okparaji
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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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