Business
Navy Uncovers Another Vandalised Well Head
The Commander, Nigerian Navy Ship (NNS), Delta, Commodore Ibrahim Dewu, says the command had uncovered another vandalized oil well Head in Delta State.
Dewu told newsmen in Warri that the well head, belonging to the Nigerian Petroleum Development Company (NPDC), was uncovered recently and that navy divers were still battling to lock it.
The Tide source disclosed that naval operatives had in February uncovered a vandalised well head in the same Ilobodede Community.
The commander appealed to Governor Ifeanyi Okowa to compel community leaders to monitor the movement of persons in their domain.
“This is the second time we are uncovering vandalized well head belonging to the NPDC in one month and in the same community.
“This discovery is another landmark for the navy. The perpetrators siphoned huge quantity of crude oil through the vandalized facilities.
“Divers from the Navy’s Special Squad are trying to halt the flow of crude oil from the vandalized facilities.
“Tons of crude oil have spilled from the underground storage facilities constructed by the criminals, thus polluting the water and the environment”, he said.
Dewu said the navy would, however, not relent in its efforts to combat illegalities in the maritime domain in line with the directives of the Chief of Naval Staff.
He decried the harmful effects of pipeline vandalism on the ecosystem and warned perpetrators to desist from sabotaging the national asset or face the full wrath of the law.
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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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