Business
Fuel Scarcity Persists In Makurdi
Fuel scarcity has persisted in Makurdi, Benue State, despite efforts by the Directorate of Petroleum Resources (DPR) to ensure availability of the product.
Reports gathered that most petroleum service stations in the town were out of stock, while the few providing it to motorists sell above the regulated price.
Some managers of the service stations said they sell above pump price to stay afloat in the business.
The scarcity of the product has forced transport fares up as motorists, especially motorcycle operators, had taken advantage of the situation to exploit passengers.
The DPR Controller in the state, Mr Mohammed Abdulrahman, told newsmen that the department had deployed its men to monitor the situation.
He said the department would not relent in its efforts to ensure availability of the commodity.
Abdulrahman denied involvement of his staff in hoarding of the commodity.
He said officials of the directorate were not owners of the service stations and could not be linked with acts of hoarding or price increment.
He said the directorate had deployed its staff to all parts of the town to ensure provision of the commodity to the motorists at controlled price.
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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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