Business
Port Manager Lauds Navy Over Commercial Shipping
The Port Manager of Onne
Port, Ayodele Durowaiye, has said that the involvement of the Nigerian Navy in commercial shipping has brought stability to the nation’s maritime environment.
Durowaiye disclosed this during the recent visit of the students of Senior Course 38/2015, Department of Warfare, Armed Forces Command and Staff College, Jaji to Onne Port Complex, as ate annual exposure to areas of strategic interest.
The Port Manager explained that the relative peace enjoyed in the Niger Delta region of the country has brought comfort to shipping and attributed same to the ongoing cordial relationship between the Nigerian Ports Authority (NPA) and the Nigerian Navy.
He further stated that the operation of Nigerian Liquefied Natural Gas (NLNG) can only be guaranteed in an environment of peace, noting that these were very strategic assets for the nation’s economy.
Speaking on the managements collaboration with the Navy, Durowaiye said that among other things, Nigerian Ports Authority in a deliberate effort procured fast moving security boats for the Navy which underscores Managements commitment to support its surveillance of the nation’s territorial waters.
The Port Manager assured that Management of NPA would continue to work with the Navy in the interest of the national economic development.
On the specific steps taken by the port to address issues, the Port Manager stated that the newly constituted Port Security Committee has provided an avenue for stakeholders to share information on security challenges that are unique to the port and to jointly proffer solution to such challenges.
Delivering a vote of thanks on behalf of the Commandant, Lt. Cdr NB Karah expressed satisfaction with the enlightenment and assured that the knowledge gained will not only be applied in the college but for future endeavours.
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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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