Business
Traffic Congestion Returns To PH
The usual road traffic congestions experienced on major roads of Port Harcourt are gradually returning as residents make their way back to the city after the yuletide holidays.
The Tide reports that for the past 10 days, the major roads of Port Harcourt have enjoyed free flow of traffic occasioned by the mass exodus of people who travelled for the festive season to their respective destinations.
Our investigation revealed that motor parks of Nkpolu Oroworukwo (Mile 3 Park), Abali Park, Bayelsa, Uyo, Bori, Ahoada, Asarama loading points, among others, were empty as more passengers were coming in than travelling out.
Also at Rivers Transport Company (RTC) park, Agofure Transport Motor park and other motor parks belonging to Cross Country Transport Company, Bob Izua Motors, Peace Mass Transit Company etc, it was observed that the influx of passengers at the arrival units outnumbered the departure units of the respective companies.
Our correspondent also reports that taxi drivers make brick businesses as they station at the respective points to pick passengers on arrival on drops.
Speaking to The Tide, Mrs Amina Yusuf, who arrived from Lagos said that the taxi driver charged her as much as N1,500 per drop from Water Lines to Victoria Street in Port Harcourt township, an offer she considered too exorbitant and exploitative.
According to a driver, Chidi Uzo, “this is our own time to make small money from passengers who had spent sparingly on their welfare at their respective homes, while we keep the city alive for them to come back and meet”.
The exercise, he said, would last for few days and the city would be flooded again with human activities.
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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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