Business
D-G Tasks Nigerians On Locally Made Goods
The Director-General, Sokoto State Small and Medium Scale Enterprises Development Agency (SOSMEDA), Hajia A’isha Hassan, has advised Nigerians to emulate the Federal Ministry of Defence, by patronising Made- in-Nigeria goods. Hassan gave the advice in an interview with newsmen in Sokoto, Monday
She said the ministry had procured 3,000 pairs of shoes at the cost of N30 million from the Nigerian Leather Institute, Sokoto, to enhance local production. The official said that such patronage would stimulate local production and encourage mass production of locally made goods.
She said the shoes would be distributed to workers in the ministry.
Hassan said the Minister of Defence, Mansur Dan-Ali had since inspected the items produced by the institute, along with others produced by various manufacturers in the country. The director-general said various items being produced locally were of very high quality and could compete with those produced abroad.
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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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