Business
ASUU Suspends One-Month Strike
The Academic Staff Union of Universities has officially suspended its one-month-old strike.
ASUU said it was suspending its strike conditionally till the end of October for government to fulfill its promise.
The union made this known to newsmen last Monday, after its meeting with the Federal Government delegation in Abuja.
The union in the meantime directed university lecturers to resume their normal duties from yesterday based on the Memorandum of Understanding (MoU) signed with the Federal Government led by the Minister of Labour, Dr. Chris Ngige.
The Ministry of Labour had earlier said both parities were to produce collective agreement after the meeting of Monday.
It would be recalled that ASUU had on the 13th August, 2017 embarked on an indefinite strike following government’s refusal to implement the agreement it reached with the union in November, 2016.
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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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