Business
Stop Controlling Petrol Distribution, RTEAN Tells FG
The Road Transport Employers Association of Nigeria (RTEAN) has urged the Federal Government to stop controlling the distribution of petrol and ensure end to products scarcity in the country.
The National President of RTEAN, Alhaji Musa Isiwele told newsmen yesterday in Abuja, that the scarcity situation made it impossible to control transport fare.
“There is no way the unions can control transport fare until petrol is available; for now there is no regulation on transport charges until fuel supply normalises.
“I call on Federal Government to hands off fuel business. If government says today that I have no hand in fuel, you will see availability of fuel and the price will come down,” he said.
The RTEAN boss said the association was set to create about 4.5 million jobs through its nationwide mass transport scheme.
“Let me tell you, I don’t want to reveal our plans, Nigerians will know our plans on the day of unveiling. You should also know such jobs have to do with government partnership and this will happen in no distant time.
“April or May this year, we will let the cat out of our bag.
“We are running a nationwide mass transit scheme in which most of the vehicles will be dedicated to the unemployed, disabled and the less privileged in order to support the Federal Government for the benefit of the good people of Nigeria.
“This will help in reducing the hardship in the movement of commuters and boost the economy of Nigeria’s transport system,” Isiwele said.
He said the union also planned to establish modern motor parks in 36 states of the country, including FCT.
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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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