Business
NAOC’s Road Project Excites Bayelsa Community
The people of Egbemo Angalabiri community in Ekeremor Local Government Area of Bayelsa State have heaved a sigh of relief as the Nigerian Agip Oil Company (NAOC) and its joint venture partners constructed and commissioned a 500 metre concrete road and drains project in the area last Friday.
In his speech, the Stakeholders Management and Community Development Division Manager, NAOC, Mr Dennis Masi, who represented the Managing Director, Mr Massino Insulla, said the commissioning of the road project would enhance economic and social mobilisation among the people.
The NAOC boss noted that the commissioning of the road project was in fulfillment of the terms of the Memorandum of Understanding (MoU) entered into between NAOC and its Joint Venture partners and Egbemo Angalabiri community.
He stressed that under the Access to Infrastructure Programme of the company, which is geared towards providing socially beneficial and sustainable projects in its operation areas, NAOC and its Joint Venture partners would continue to embark on projects that will make life more meaningful to host communities.
Speaking at the ceremony, the Community Development Committee chairman, Egbemo Angalabiri community, Mr Pumokumo Gabice expressed the community’s gratitude toward the completion and commissioning of the road project by NAOC and its Joint Venture partners, pointing out that the manifestation of the road project was the community’s dream come true.
He thanked the company for fulfilling the terms of the Memorandum of Understanding with the community, urging other oil companies operating within Egbemo Angalabiri territory to emulate NAOC and its JV partners.
Meanwhile, the inspection of an ongoing construction of a 750m concrete road and drains, a 300 seater civic centre and others, was embarked upon by NAOC Joint Venture team led by NAOC’s Infrastructure, Estate Maintenance and Engineering Deputy Manager, Mrs Naina Osima.
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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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