Business
Eleme Youths Kick Against New Fertilizer Plant
Youths of Eleme Community in Eleme Local Government Area of Rivers State have protested against the proposed new fertilizer plant that will be built in the area by the Indorama Eleme Petrochemical Company Limited.
The youth who went on protest last Thursday said the new fertilizer plant which is a urea fertilizer plant to be built by the Indorama Company will have adverse effect on the environment and as such will not allow such harm to be done to the environment where they reside.
Speaking to Journalists during the protest, the Eleme Youth Council Chairman, Isaac Obe, said that the youth in Eleme will not fold their hands and watch the harm the Indorama group wants to cause to the environment as they will oppose such intention.
He said that the Urea fertilizer plant is not friendly to the environment and maintained that the company must undertake a wider consultation with relevant bodies and if given a clean bill of health, they can proceed to build such new fertilizer plant.
According to the youth chairman, “an Environmental Impact Assessment (EIA) must be carried out on this issue and the report will now tell if such plant can be built or not and without that report, we will oppose the building of such plant”.
Meanwhile, the Chairman of Eleme Local Government Council, Mr Oji Ngofa has said that the council will not allow anything that will damage or bring an environmental harm to the people of the area and urged the Indorama company to undertake wider consultation.
The council chairman said that his council will oppose the plan to set up the fertilizer plant, if the EIA report is not favourable.
It would be recalled that Indorama Group has secured a loan of $800 million to build what it describes as the largest fertilizer plant in the whole of Africa.
Corlins Walter
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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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