Business
Road Projects: Sand, Gravel Dealers Hail Wike
Dealers in sand and
gravel in Port Harcourt and its environs, have commended the Rivers State Governor, Chief Nyesom Wike on the on-going road reconstruction and rehabilitation projects across the state.
Chairman of the Sand, Gravel and Building Materials Dealers Union, Rivers State, Chief Ezinna Obiji, gave the commendation in an interview with The Tide, on Wednesday, in Port Harcourt.
Obiji said the on going road works in the state have gone a long way to help their business, and that their trucks do not breakdown anymore as before due to better road network.
He noted that because of the condition of roads in the past, dealers in sand and gravel incurred costs for repairs of their vehicles, observing that these costs in turn reflected on the prices of their products.
Obiji also pointed out that the bad roads contributed to heavy traffick congestion, reasoning that the truck drivers had to park along the roadside to make room for other trucks at the sandfields and to avoid crashing into houses and other properties.
He said hopefully when the roads are completed the cost of sand and gravel would be reviewed downwards and thanked Governor Wike for his sensitivity to the plight of the people.
Tonye Nria-Dappa
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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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