Business
Customs, SON Partner To Decongest Seaports
Maritime activities ended on Saturday with the Nigeria Customs Service (NCS) saying it was ready to collect duties on all the dutiable containers of electronics congested at the seaports.
Mr Wale Adeniyi, the Service Public Relations Officer, told the News Agency of Nigeria (NAN) on Saturday in Lagos that the service could not stop the clearance of such goods.
NAN reports that some of the containers had been at the ports since October, 2010.
The Standards Organisation of Nigeria (SON) and Consumers Protection Council (CPC) had on Thursday granted electronics importers up to August 15 to clear all the backlog of containers.
This was the outcome of the agencies’ meeting with the importers at the Alaba International Market in Lagos.
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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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