Business
Imo Workers To Receive Full Salaries From August …As Gov Reverses Okorocha’s Policy
Governor Emeka Ihedioha of Imo State has directed that civil servants in the state should start receiving their full salaries from this month, August.
The directive is contained in a statement issued last Friday, by his Special Assistant (Research), Mr Ogubundu Nwadike.
Immediate past Governor, Rochas Okorocha, had in 2017 slashed the salaries hinging the decision on the dwindling monthly allocation from the Federal Government.
But on assumption of office on May 29, Ihedioha directed full payment of salaries, but was not immediately implemented.
The statement tagged ‘Treasury Circular’ quoted an earlier circular signed by the Accountant-General, Donald Igbo, clarifying the governor’s directive.
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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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