Business
‘2.13m Tonnes Of Cargo Arrive PH Wharf’
A total of 2,133,741 tonnes of cargo arrived Port Harcourt Wharf between January and May, 2009. Out of the number, 587,595 tonnes of goods which represents about 26.35 per cent were received in the month of May.
The cargo records made available to The Tide the lowest number of cargo received in the month of April stood at 294,707 tonnes.
According to the record, the Okrika Jetty recorded the highest number of cargo throughout, which stood at 519,288 tonnes, representing 24.34 per cent of the total.
The Terminal A which is the area operated by the Port and Terminal Operators Limited (PTOL) at the Port Harcourt Wharf recorded 498,803 tonnes of cargo representing about 23.38 per cent.
The jetty that had the lowest cargo is the Bonny Offshore Jetty which had the lowest cargo through out with 4,410 tonnes which represents 0.212 per cent and the cargo was received in the month of March, 2009.
Other jetties and terminals that shared in the cargo throughout include the Bitumen, Haastrup, Ibeto, Macobar Jetty and the Terminal ‘B’ operated by BUA.
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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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