Business
PIB: Host Communities List Conditions
Oil and Gas host communities chairman, Rivers State Chapter, Amb. Herbert C. Awortu says any decision on Host Communities Trust Fund Bill should be allowed to be taken by the people concerned and not by the politicians.
Awortu made the remark in a general meeting/National Election of the Host Communities Association held in Port Harcourt, Friday.
Awortu, who urged the leadership of the host communities not to relent in efforts at ensuring the actualisation of the host communities trust fund bill, expressed fear that the influence of some politicians and top government officials might alter some sections in the bill.
The host communities chairman alleged that some top government officials, including some state governments, were running round the National Assembly to effect some changes in some sections, believed to be against the 13 per cent derivation fund to the state governments of the oil-rich region.
He said that the host communities bill was not against any allocations to the states in the region, but to ensure that any fund allocated to the oil and gas communities goes directly to effect developments in the areas.
Awortu said in strong terms that the rising spate of oil and gas installation vandalisation affected developments in the communities and expressed commitment of the state governments in the region to the passage of the bill to support any government effort in the development of the states in the region.
In his remark, the new elected Vice Chairman from Rivers State, Evang Ibinabo Walson Sanibe, said the host communities trust fund bill was sponsored by oil and gas host communities association to amend and come out with a law that would enable fund allocation for the development of oil and gas communities have direct impact on the communities.
Enoch Epelle
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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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