Business
FG, Benue To Establish Yam Processing Factories
Benue State Government
said that it was collaborating with the Federal Government to establish two Yam Processing Factories in the state.
The state Commissioner for Agriculture and Natural Resources, Mr Donald Gbugho, made this known in an interview with The Tide source in Makurdi, yesterday.
Gbugho said that the yam processing factories would be sited in Zaki-Biam town of Ukum Local Government Area and Katsina-Ala the headquarters of Katsina-Ala Local Government Area.
He explained that the factory in Zaki-Biam would be financed by the Federal Government, while that of Katsina-Ala would be financed by the state government.
The commissioner explained that the state government was in touch with the department of food processing of the Federal Ministry of Agriculture on the projects.
According to him, the two factories will commence operations before the expiration of the tenure of the present administration in May. Gbugho said that the director in the food processing unit had informed him that the machines for the factories were still being expected and would arrive soon.
He added that some engineers from the state had left Nigeria for China to test run the machines ordered by the government to ensure that they were in good conditions and can deliver.
The commissioner noted that the factories would add value to yam produced in the state and also create more job opportunities.
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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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