Business
Cultists Kill Youth Leader In Rivers
Persons suspected to be cultists last Monday killed the leader of Ijaw Youth Council (IYC) at Ifoko community in Asari-Toru Local Government Area of Rivers State.
The IYC leader identified as Daddy Ikalama was reportedly killed by his assassilants in a creek near Soku in Akuku-Toru LGA.
The Tide gathered that the gruesome murder of the IYC leader had paralysed commercial and social activities in Ifoko community for days now.
Though details of the murder were still sketchy, sources indicated that the murder of the youth leader might not be unconnected with his rigid stance and out-spokeness against cult activities in Ifoko community.
Residents of the area have reportedly fled the community to neighbouring villages of Tema, Sangama, Abalama among others for fear of reprisal attack.
The Tide gathered that people of Ifoko had been living in perpetual fear following an aggressive resurgence of cult activities in the area.
Two persons are helping the security agents to unravel the mystery of the death of the Ifoko youth leader.
The Rivers State Police Public Relations Officer, Dr Rita Inoma-Abbey who confirmed the story said investigation was in progress to arrest other fleeing suspects implicated in the gruesome murder.
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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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