Business
NUP Protests Unpaid N3bn Arrears
The Nigerian Union of Pensioners (NUP), Rivers State chapter on Wednesday protested of their pensions and gratuity in Port Harcourt over alleged unpaid arrears totaling over N3 billion.
Over 300 ply cards carrying members of the union besieged the entrance of Rivers State Government House accusing the government of not paying members their 5% and 16% of pension review. He said that instead the government has been organizing frivolous certificate of pension.
Chairman of the union, Comrade Edward Festus who led the protest explained that pension is supposed to be reviewed upward every five years but that the state government has not done this in the past 12 years.
Comrade Festus further stated that the former secretary to Rivers State Government who is presently a member of the National Assembly, Senator Magnus Abe liaised with NUP and carried out computation of pension payment three years ago but regretted that noting has come out of the exercise as the computed payment has not been implemented.
The union chairman appealed to the state government to live up to expectation by paying NUP members outstanding arrears which he claim has accumulated to the tune of over N3 billion.
He said, “pensioners are dying daily without getting their pensions. This is unfair and we want the present administration to reverse this ugly trend”.
Reacting, the Chief of State of Government House Chief Tony Okocha who received the protesters promised to take the pensioners matter to the appropriate quarters. He said that the administration would take appropriate action.
The Chief of Staff also received the union’s protest letter, banners and ply cards from chairman of NUP which he said would be submitted to the state governor.
Chris Oluoh/ Nlerum Bob Friday
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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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