Business
Two Dead, Buildings Razed As Petrol Tankers Explode At Omerelu
Two persons were feared dead yesterday during a petroleum tanker explosion at Omerelu community in Ikwerre Local Government Area of Rivers State.
The explosion which occurred at the early morning of yesterday also razed down buildings and destroyed goods and other valuables worth millions of naira.
The incident, according to The Tide source, occurred following the collision of two petroleum tankers at a check point.
An indigene of the community, Innocent Amadi, who witnessed the incident, told The Tide that the two tankers exploded after the collision.
Amadi said a tanker conveying petroleum product was stopped by a petroleum task force in an attempt to allegedly extort money from the driver when another tanker collided with it at the check point.
According to him, “early hours of yesterday, fire ignited after the collision of two tankers, leading to the fire that razed the buildings down with two people losing their lives”.
Amadi disclosed that angry youths in the community had risen against the activities of the petroleum task force and called on the state government to intervene to save lives.
The Tide reports that incidents of tanker explosion have become so frequent in Rivers State in recent times.
The Tide recalls that a similar incident was averted last Thursday near Education Bus Stop, Mile One, Diobu, when a petroleum tanker spilled its contents that could have ignited fire but for the quick intervention of fire fighters.
By: Lilian Peter
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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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