Business
Total, UNITAR To Promote Plastic Recycling In Nigeria
Total E&P Nigeria Limited and the United Nations Institute for Training and Research (UNITAR) have signed a special purpose grant in a bid to reduce plastic pollution in Nigeria and help save the environment.
The grant, according to a statement made available to The Tide will be managed by UNITAR with an implementation committee to create a full-cycle recycling plant, which will be located in Port Harcourt, Rivers State.
The Managing Director, Total E&P Nigeria, Mr Nicolas Terraz, said, “We expect that this project will bring a turnaround to the Nigerian recycling sector and also create employment at every step of the value chain.”
Terraz was represented at the signing ceremony in Lagos by the company’s Executive General Manager, Corporate Social Responsibility, Mr Vincent Nnadi, according to a statement.
The Country Head and Resident Representative, UNITAR, Lawrence Boms, said, “This is not the first time we’ve been in partnership with Total. We know the Sustainable Development Goals are not done on paper; you have to do practical things to create employment and do something to save the planet. That is why we are really interested and happy to partner with Total this time again.”
According to the statement, the two-year project is expected to create employment, induce research and finally unbundle opportunities to small and medium-scale enterprises.
It said the agreement was signed on April 1, 2019 in Lagos and countersigned by the UN Assistant Secretary General Executive Director, UNITAR.
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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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