Business
ABU Develops Prototype Refinery- VC
The Ahmadu Bello
University (ABU), Zaria, Kaduna state, has developed a prototype refinery with a capacity of refining one barrel of crude oil per day. The Vice Chancellor of the university, Prof. Ibrahim Garba, disclosed this yesterday while addressing newsmen at the main Campus in Samaru, Zaria. Our correspondent reports that the briefing was part of series of activities toward the 38th convocation ceremony slated for Saturday, January 30. “This is a prototype refinery that runs on one barrel a day. It is a very long term project, we started it and then Raw Materials Development Council came in to support. “The project being built in stages, so far we can produce petrol (PMS) and diesel. We need more support from potential supporters and investors to take it to the next level,” said the vice chancellor. He said the university had signed an agreement with Kaduna Refinery and Petrol Chemical Company (KRPC) on supply of crude oil but they were yet to fulfil their obligation. Garba said the institution had repositioned itself to address some of the national challenges through research and development in its post graduate school. He identified inadequate accommodation as one of the pressing challenges facing the institution with more than 40,000 student population apart from lack of fund. The vice chancellor called for public-private partnership to address the accommodation problem. He recalled that the Mechanical Engineering Department had recently designed and produced a car called ABU Car. Garba said Alhaji Aliko Dangote, the Chairman and Chief Executive, Dangote Group, was expected to deliver a pre-convocation lecture on Friday evening, while Emir of Kano, Alhaji Muhammadu Sanusi II , would chair the occasion.
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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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