Business
Rivers Pensioners Beg For Payment Of Arrears
Pensioners in Rivers State have appealed to the Rivers State Governor, Chief Nyesom Wike, to approve the payment of their pension arrears even as they commended the governor for making good his promise by paying their monthly emoluments.
The retirees, who spoke through their spokesperson, Lucky Ati during a walk to the state secretariat last Tuesday said the pension arrears had been lingering since 2012, following irregularities in the contributory pension scheme policy in the state.
Ati noted also that some of the retirees were being short paid as far back as 2011, adding that the money was so little that it would be seen as inhumane if something was deducted from it.
He stressed that the monthly payment was not enough to meet their financial obligations, saying the payment of the pensioners arrears would go a long way to solve their immediate needs.
The senior citizens appealed to government to address the matter with urgency, suggesting that it could be paid in batches.
He recalled that Governor Wike had in July this year, signed the Rivers State Pensions Reforms Bill into law, which he said, was expected to address the lingering pension issues in the state since 2007.
The Tide reports that under the new law, some 800 pensioners who had duly completed their biometrics were placed on the government’s pay roll and have since been receiving their pensions, while payment of their gratuities are still being expected.
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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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