Business
Don Tasks Govt On Biofuel Use
A lecturer in the Department of Biochemistry, University of Port Harcourt, Choba, Dr Sam Ndukwe, has called for the use of biofuel in the diversification programme of the government.
Ndukwe stated that being an oil producing state, Rivers State could look into the possibility of embracing biofuel to be used as a revenue earner for the state.
Accoridng to him, “oil is a fossil fuel and would one day run out and then what would we fall back on to provide revenue?
He went on, “biofuel is made from plants, which could be replanted, following the “fall one, plant one tree” policy of the nation.”
The Biochemist, who bared his mind on the matter in a chat with The Tide, Tuesday in his office at Choba, noted that biofuel could help Nigeria out of recession, through its use as biogel in cooking.
Ndukwe pointed out that cooking gas, which is now out of the reach of the average Nigerian could be substituted, using bogel, which he explained was clean safe fuel, burns better than firewood and kerosene and less hazardous.
He observed that Nigeria, which prides herself as the world’s largest producer of cassava should look into the industrial farming of cassava.
The varsity don further said, “Rivers State has vast virgin forests that could also be utilised in the production of biofuels with a view to exporting and increasing the state’s internally generated revenue base.”
Tonye Nria-Dappa
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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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