Business
‘HighMaize Price Frustrating Poultry Farming’
Former Chief of Army Staff (COAS), Lt Gen. Azubuike Ihejirika(rtd), has lamented the rising cost of maize, saying it has made poultry farming an unprofitable enterprise in Nigeria.
The former Army Chief, who is into farming, made the lamentation during a media chat with newsmen after a tour of his green farm and poultry farm in his Ovim Isuikwuato country home.
Expressing regret that the required structures are not readily available for farming, he noted that agriculture is a sector that could provide the much-needed job opportunities for the teeming youths
“If we want to be self-sufficient we need to do certain things”, he asserted.
Ihejirika, who said he has passion for agriculture, urged youths to develop an interest in the sector for personal reliance despite the prevailing challenges.
While noting that a lot of people had abandoned their fish farms due to the high cost of fish feeds, he appealed for Government intervention to encourage youths engagement in the sector.
This, he said, would not only help to solve the protein needs of the country, but help to reduce the growing insecurity in the land.
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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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