Business
Group Wants FG To Alleviate Masses’ Suffering
The Federal
Government has been called upon to set in motion machinery to alleviate the suffering and plight of the masses.
A socio –economic group, “Better Life Sustainable Initiative”, in a statement signed by its President, Mrs Grace Bob-Manuel, said the call became necessary because of the high level and cost of living currently facing the entire people of the country as a result of some policies.
The statement said despite the acclaimed fight against corruption in the country, the Federal Government should strive and ensure that the masses feel the impact of the government with availability of resources.
It opined that most Nigerians are passing through untold hardship due to the harsh economic, situation, stressing that strategic efforts should be made to ensure food production and importations of rice and others into the country to ameliorate the suffering of the citizenry.
The statement noted that there is will in all aspect of life including business activities, saying that it is drastically affecting the livelihood of the people and called on the government to look inward, have a human face and put smiles on the faces of its people.
The group reiterated that fighting corruption is a step in the right direction as it would boost the dwindling economy of the nation as well as serve as a deterrant for others if only it is done with all sincerity, pointing out that government should make plans to give the people a sense of belonging.
On the lingering petrol scarcity, the group also appealed to the government to take proactive action in finding a lasting solution so that the masses would feel the impact of the dividends of democracy.
According to the statement, the federal government is yet to come out with a clear-cut decision on the issue, stressing that as an oil producing nation, Nigeria should not experience any scarcity of the product.
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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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