Business
World Bank Links Building Collapse To Poor Regulation
World’s apex banking institution, the World Bank, has attributed the frequent building collapse in Nigeria, especially in Lagos State, to gaps and loopholes in the permitting process and the use of unqualified professionals in the design and construction of buildings.
World Bank also listed the absence of a legally adopted building design code, limited land available for development, and lack of systems to ensure the quality of construction materials among reasons buildings cave in regularly in Lagos, and other parts of the country.
The institution made the revealation in its recent report on housing regulatory framework standards in sub-Saharan Africa, which was obtained on Monday.
According to the bank, only about 10 per cent of construction sites obtain permits, and even when permits are obtained, final construction can still deviate from their requirements.
The World Bank noted that as a result of failure in regulation, building collapses occur during the rainy season due to construction on inappropriate sites and/or flood damage to foundations and structures.
It also stressed that the building control authorities were under-resourced and lacked adequate transportation and equipment to carry out effective site monitoring and inspection.
To resolve this, the World Bank proposed collaboration between the government and private sector, as well as bottom-up outreach to inform communities about the risks associated with low-quality construction and design.
By: Corlins Walter
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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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