Business
ITF Amendment Bill Scales Second Reading
A Bill to amend the Industrial Training Fund
( ITF) Act of 1971, last Thursday in Abuja passed the second reading at the House of Representatives.
The bill also seeks to empower the fund to design, set up and operate guidelines for training and certification.
According to the bill, the training and certification will be done at the states, local governments and the ward levels.
It seeks to establish area registries for maintaining up-to-date registration of certified artisans and technicians in all fields and in all parts of the federation.
Leading debate on the general principles of the bill, Rep. Chudi Uwazurike said the proposed legislation was to expand the scope of manpower by paying attention to entrepreneurship.
He said the bill would also set standards for artisans and technicians.
The lawmaker urged members to support the bill to empower artisans and technicians to develop the economy.
Supporting the debate, Rep. Chris Azubogu said that the bill’s importance could not be over emphasised.
He said it was imperative to standardise the way artisans carried out their activities, to help create manpower and reduce unemployment in the country.
Contributing, Rep. Chris Etta said it would assist “in creating calculated economic improvement”.
Also contributing, Rep.Aminu Shagari said the law was a good one, adding that it would give the teeming youths the opportunity to grow and be self reliant.
However, the bill received strong opposition from some members who felt it would be a duplication of the functions of what some government agencies were empowered to do.
Rep. Aisha Ahmed cited the National Directorate of Employment (NDE) as an agency that organised training programmes like carpentry and others for youths.
Also opposing it, Rep. Shehu Garba said the amendment sought should be an intervention and not to set standards for artisans and technicians.
He suggested that the bill should be an intervention “and not to encroach on roles already carried by existing agencies’’.
Notwithstanding the opposition, the bill scaled through to second reading when put to vote by the Deputy Speaker, Rep. Emeka Ihedioha.
Ihedioha, therefore, referred it to the Committee on Industry for more in puts.
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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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