Business
Traders Seek Policies To Protect Rights
The National Coordina
tor of Traders Rights Protection Initiative, Mr Christopher Okpala last Thursday called on governments at all levels to formulate policies to protect rights of traders in the country.
Okpala who made the appeal in his address at the 2013 Annual Business Award ceremony and investiture of patrons of the organisation in Lagos, urged regulatory agencies, state and local governments to treat traders as major stakeholders in the economy, whose interest and welfare should be considered.
He said that traders have faced ulter neglect deprivation through all manners of obnoxious policies, ranging from over taxation, multiple taxation, violation of basic human rights and excessive application of force.
According to him, the burden of import Octopus, seizure of non-contraband goods and unnecessary delay of traders along the highways should also be tackled.
“Also, our friends at the embassies and high commissions should be prevailed on to make business trips less cumbersome and stop denying traders from travelling for genuine business trips, he said.
Okpala said that trading had provided employment opportunities and served as a resort to graduates who had been unable to secure jobs.
The coordinators said that the award ceremony was organised to honour successful entrepreneurs, banks and media practitioners who had contributed to the progress of small, medium and large scale traders in the country.
He said that a cooperative society will also be floated to take care of the basic needs of their members and Nigerians from other walks of life.
The organisation also launched the maiden edition of its trader’s voice newspaper and traders cup at the event.
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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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