Business
Agency Spends N1.8b On World Bank Assisted Projects
Yobe State Agency for Community and Social Development (YBACSD)says N1.8 billion has been spent in executing 838 World Bank-assisted projects in the state in the past 10 years.
The General Manager, Alhaji Babagana Goni, who made this known during an interaction with newsmen in Damaturu, said that the projects were carried out in phases across the 17 local government areas.
He said the agency also provided micro projects in 34 communities in addition to constructing bore holes, clinics and blocks of class rooms in schools.
“Similarly transformers, electricity polls, markets stalls, culverts and feeder roads were constructed during the period under review.
On the community poverty reduction programme, Babagana said the agency had assisted more than 500 communities, including women groups with skills acquisition centres and materials at the cost of N29.041 million.
“ Due to geo-ecological structure of Yobe, the agency spent N6.235 million on desert control in the affected communities,’’ he said.
He said that last month the agency received and approved 52 community development plan project proposals from the 17 local governments estimated at N414, 734.
According to him, the agency has already cleared four sets of the proposals as required by World Bank.
He, however, said the success of poverty reduction projects had attracted over 900 applications from various communities in the 17 local government areas of the state.
“Yobe is among the states that implemented the projects according to World Bank conditions,’’Babagana said.
He said that the major problems facing the agency was the inadequate facilities and equipment for the local governments’ review committees and desk officers to effectively implement and monitor the projects by communities.
He urged communities, local government councils and traditional rulers and communities leaders to sensitise their people on the need to send their demands to the agency for assistance.
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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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