Business
Navy Destroys 265 Illegal Refineries In Warri
The Nigerian Navy Ship, NNS Delta, Warri Naval Command said it destroyed 265 illegal refineries and burnt 100, 000 tonnes of locally refined diesels in the last three weeks.
The illegal refineries and the products were destroyed in two separate operations inside Warri creeks.
The NNS Delta Commander, Capt. Musa Gemu, who assumed duty in February, told newsmen on Thursday that his command would not condole illegalities in the creeks.
“We will deal decisively with oil thieves and pipeline vandals in my areas of responsibilities,” Gemu warned.
He recalled that on March 15 he led a team of Naval officers to Oteghele Phase one and two forests in Warri South-West Local Government Area of Delta.
In the operation that lasted over eight hours inside the forest a significant landmark was recorded.
Gemu said the Navy destroyed 260 underground refineries and over 100,000 tonnes of diesels.
He added that five suspects were arrested and two boats, two pumping machines and a generating set were recovered.
Similarly, on April 7, the Navy combed the Isaba forest in Ogbe-Ijoh, Warri South-West and in the process destroyed five illegal refineries and 31 drums of locally refined diesel.
A welding machine and a generating plant were recovered, adding that there was a decline in the illegal activities and the operations were yielding results.
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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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