Business
Clark Wants More Oil Blocs For N’Delta Indigenes
An elderstatesman, Chief Edwin Clark has urged the Federal Government to open up the existing platforms and frameworks to accommodate more people from the Niger Delta in the allocation of oil blocs.
Clark, who is the National leader, Pan-Niger Delta Forum (PANDEF), made the plea while speaking with newsmen on Wednesday in Kiagbodo, Burutu Local Government Area of Delta State.
He said that Niger Delta indigenes were not given priority in the allocation of oil blocs in spite of being directly affected by the impact of oil and gas exploration activities.
“It has become more pertinent and expedient that the Federal Government, without delay, should open up the existing platforms and frameworks to accommodate more people from the Niger Delta.
“This will, in no small measure, check the socio-economic and related challenges in the region.
“We are aware that about 50 oil blocs and marginal fields will expire in 2019. These marginal fields should be divested to indigenous companies.
“Also, the Federal Government should henceforth, as a matter of strategic priority, approve its granting to Niger Delta indigenes.
“The state governments in the Niger Delta zone should be given the Right of First Refusal (RoRF) in the renewal and award of new oil licenses,” Clark said.
He decried the infrastructural deficit in the oil-rich region in spite of its huge contribution to the economic sustenance of the country.
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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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