Business
Wada Probes Kogi LGs’ Accounts
Gov. Idris Wada of
Kogi State has ordered a comprehensive audit of the accounts and finances of the 21 local government areas in the state.
In a statement issued on Sunday in Lokoja, the governor said that the exercise had become necessary due to inability of the local government areas to pay full salaries to their workers since 2013.
The Special Adviser to the Governor on Media and Strategy, Mr Jacob Edi who signed the statement quoted the governor as saying that the decision had been conveyed to the local governments’ chairmen.
According to the statement, the governor has directed that the auditing must be carried out by private audit firms and should end within three weeks.
The statement said that the state government would oversee the payment of salaries of local government workers in the interim.
It said that the chairmen of the local government areas had also been directed to steer clear of the accounts of their respective administrations.
The statement said that the governor expressed concern about the perceptible recklessness and lack of financial probity among some of the local government areas.
“We will sanitise the local government system, a situation where most chairmen cannot pay full salaries to workers is not healthy for development; efforts must be made to reverse it’’, it said.
It said that any chairman indicted by the report of the audit exercise would be directed to the appropriate authority for necessary action.
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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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