Business
Nigeria – British Chamber Wants MMA Cargo Section Open
The Nigeria-British Cham
ber of Commerce (NBCC) has appealed to the Nigeria Customs Service (NCS) to reopen the Murtala Mohammed Airport (MMA) Cargo section closed to business since November 24.
The President, NBCC, Mr. Adeyemi Adefulu made the appeal in Lagos on Friday, while speaking to newsmen.
Adefulu said the closure of National Aviation Handling Company (NAHCO) and Skypower Aviation Handling Company (SAHCOL) warehouses had adversely affected the running of businesses through MMA in Lagos.
The NBCC Boss said there is a compelling need for the Nigeria Customs Service to consider the larger interest of the country to reopen the warehouses, stressing that cargo has been stockpiled in the warehouses to the disadvantage of the business owners.
He said Nigeria-bound air cargo from all over the world are piling in oversea warehouses and demurrage is accruing on them, adding that sales contract and letters of credit are at risk of non-compliance with agreed terms.
He said the country international reputation in global trade is being jeopardized at a time the economy is struggling with foreign exchange values and the country, trade partners, and local businesses are justifiably anxious about the future.
The NBCC boss appealed to the management of both SAHCOL and NAHCO to take the relevant steps to put in place the prescribed safety measures required by customs.
He urged customs service management to also speedily review the closure of the warehouses to enable an amicable resolution to be reached by both parties, stressing that there is the risk of Cargo being left on the tarmac if warehouses are filled to capacity without any tangible solution in sight.
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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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