Business
25 New Rail Locomotives Underway In Lagos
The Federal Government has ordered for additional 25 units of locomotive engines to be injected into its fleet to beef up its operations even as it has restated its commitment towards easing the perennial gridlock that has been the hallmark and source of nightmare to communities on Lagos roads.
The Assistant Director of Publications of Nigerian Railway Corporation (NRC), David Ndakotsu, who disclosed this said the NRC is working towards improving its departure and arrival time from and to its various Lagos terminals especially in Apapa, one of the commercial centres of Lagos including Oshodi and Sango-Oshodi axial Railroads.
To this end, he said, NRC has reorganised its train timing system in order to achieve improved and sustainable train transit time efficiency.
Ndakotsu said the effects of the reorganisation are already being felt by the commuting Lagos public, saying that this is to ensure that all passengers on train arrive at their various destinations within a reasonable time.
The Lagos district of the NRC Rems six-passenger train schedule daily beginning from 6.20am every week day.
All passenger trains take off from Agbado to Ijoko; the second operates from Ijoko to Apapa, while the third leaves Ijoko as well as Iddo terminus.
Meanwhile, the Minister of Power, Lanre Babalola, in Abuja admitted that there were lapses in the award of contracts in the power sector.
Babalola made the confession while responding to a remark by Emeka Ezeh, the director general of the Bureau of Public Procurement (BPP) at the opening of a two-day stakeholders’ workshop on public procurement.
“There are lapses in the award of contracts, there are things that need to be looked into properly before awarding any contract. I think that is where the infraction comes in. It is important to plan properly and make sure that we do the right thing. There must be transparency in all we do and these should also be valued for money,” Babalola said.
The minister said the lapses were internal issues and that there were processes that need to be adhered to.
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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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