Business
Passengers Happy Over Stable Transport Fares
As Christians all over the world celebrate the birth of Jesus Christ today, commuters in Port Harcourt, the Rivers State capital, travelling to their various homes to join their loved ones in the celebration have expressed delight over the non-increase in transport fares.
The Tide correspondent who visited some of the parks yesterday observed an influx of passengers struggling with their luggage to made their journey home for the celebration.
Our correspondent further observed that some drivers were not happy with the controllers of the parks, the National Union of Road Transport Workers (NURTW) for not allowing them to arbitrarily increase the fare during this period in order to make huge sums of money, despite the fact that there were petroleum products (fuel) in all the filling stations, which they have used as a factor.
In a chat with some of the commuters, our correspondent gathered that in spite of financial constrains which they complained was one of the challenges, they were very happy going to meet their loved ones in their various homes to celebrate the season.
At Bayelsa Park of the Fly Over, Tumini Owei who spoke to our correspondent said there was no diference in fare as they have been paying N1,000 from Port Harcourt to Bayelsa State.
The story was the same from Port Harcourt to Ahoada and Bori, as commuters still pay N500.00 and N300.00 respectively to their areas.
But when The Tide correspondent visited Akwa-Ibom Unit under the Fly-Over, the transport fare which used to be N1,200.00 had been increased to N1,500.00, as well as that of Enugu, which was N1,500.00 got hiked to N2,000.
In a chat, a driver, Mr Friday Etim of Akwa Ibom line said the increase was not intentional but to meet up some extra cost they face on the road.
Collins Barasimeye
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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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