Business
FG Establishes Booster SDGs Innovation Hubs For States
The Vice President, Prof. Yemi Osinbajo, has announced the establishment of six Sustainable Development Goals (SDGs) innovation hubs by the Federal Government in each geopolitical zone in Nigeria to help boost social financing in states, among other functions.
Announcing this on Monday at the African Union Continental Workshop on Africa’s Voluntary National Reviews for the 2022 High-Level Political Forum in Abuja, he told global participants at the forum that the strategic partnership embedded in the SDGs had availed Nigeria a huge implementation context due to its large population, landmass and ethnic diversity.
“To achieve the SDGs and their effective implementation, Nigeria has established six SDGs innovation hubs, one in each geo-political zone.
“This provides an opportunity for states to leverage and dialogue with all relevant stakeholders to accelerate innovative solutions, prioritising social protection as a tool to overcome the bottlenecks and expanding financing options to accelerate the achievement of SDGs in Nigeria”, he said.
The Vice President stated further that the SDGs had remained cardinal to the attainment of robust economic cooperation among governments globally, particularly in realisation of the decade of action for SDGs as defined by the United Nations.
Last year, the Senior Special Assistant to the President on SDGs, Adejoke Orelope-Adefulire, had revealed that the Federal Government was collaborating with the UN to set up SDGs innovation hubs in Nigeria.
She explained that the hubs would serve as a mechanism to strengthen social protection, describing it as a strategic initiative hinged on the pillars of SDG-17.
Orelope-Adefulire stated that through the innovation hubs, states would be tasked with piloting innovative solutions on pertinent issues within their geo-political zones by aligning them with SDGs with the greatest multiplier effects to help meet targeted needs.
In her address at the forum, she noted that African leaders joined other world leaders during the 70th Session of the United Nations General Assembly in September 2015 to adopt the 2030 Agenda for Sustainable Development.
”The 2030 agenda envisions a present and a future that is economically sustainable, socially inclusive, and environmentally resilient,” Orelope-Adefulire stated.
She added, “This vision is expressed through the framing of the 17 SDGs; 169 targets and 230 key performance indicators.
“Taken together, the SDGs are a universal call to action to end poverty, safeguard our planet and ensure all people enjoy peace and prosperity by the year 2030.”
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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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