Business
Container Operations Resume At PH Wharf
As part of efforts to revive business activities at the Port Harcourt Port, the container cargo operations which had been abandoned for some years at the port are to resume next week with the expected arrival of a container vessel
Making this known in a chat with The Tide the Public Relations Officer (PRO) of the Area One Command of the Nigeria Customs Service, Mr. Samuel Harry said that the expected container vessel is to a berth at the wharf on Sunday.
Harry explained the Ports and Terminal operators Limited (PTOL) one of the concessionaries assigned to the port had really worked hard to ensure that containerised cargo operations are restored to the port.
According to him, several efforts were made by the PTOL management in conjunction with the Customs to woo importers and shipping companies back to the wharf, adding that several infrastructures have been put in place to ensure smooth operations.
He said that the concessionaires has promised that it will give 10 days free demurrage for containers, but that after 10 days, that it will charge N1,500.00 as demurrage for a 40-f00t container, and N700 for a 20 footer as a way of encouraging patronage of the port.
Corlins Walter
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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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