Business
NNPC Inaugurates Gas Pipeline Committee
The Nigerian National Pe
troleum Corporation (NNPC) has inaugurated a steering committee to ensure the Ajaokuta-Kaduna-Kano gas pipeline project.
The project which was approved under the National Gas Master Plan by the Federal Executive Council, is designed to transport gas for power and manufacturing industry usage to the key northern axis from Ajaokuta-Kaduna-Kano.
At the inauguration of the committee, Group Managing Director of the NNPC, Dr. Joseph Dawha, described the assignment as a national priority project which is one of the cardinal programmes of the transformation agenda of the President Goodluck Jonathan administration.
He said while progress is being made in the execution of the adjoining OB3 gas pipeline project as well as the looping of the Escravos Lagos Pipeline System (ELPS), implementation of the project is slow and out of sync with government’s desire for accelerated implementation.
“In order to strengthen this critical government national priority project and have it refocused for accelerated implementation, there is the compelling need for the establishment of a dedicated AKK project steering team with clear governance structure,” the GMD said.
The project steering committee comprises the GMD NNPC as chairman with the Group Executive Directors of Gas and Power, Exploration and Production as well as Commercial and Investment as members.
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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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