Business
Transporters Increase Fare; As Queue Reappears in Petrol Stations
Ransport fare in same parts of Port Harcourt and its environs, especially on Obio/Akpor area of Rivers State went up last week as another turn of fuel queue re-surfaced in filling stations in Rivers State.
The Tide has observed that drivers increased fare prices by 40 per cent in some areas, while some other routes increased fare by 25 per cent.
Journey from Rumuokoro to Rumuosi that used to be N50, went up to N70, while the same route to Choba that used to be N70, is now between N100 and N120 .
Also the Mile Three to Rumuokoro, which is a very popular route has remained very unstable in terms of the fare charges, as drivers demand between N100 and N150 or even as much as N200 in some cases, as against the old charges of between N80 and N100.
Such increase, however, have not been noticed with operators within the Lagos to Mile Three axis, as the same old fare of N40 per drop is still being charged.
One of the popular drivers that ply the Rumuosi axis who gave his name as Chukwunda Moses, told commuters, “do you know what we pass through at petrol stations to buy fuel this time and why won’t we increase fare”.
Meanwhile, the queue at petrol stations for some days now have not abated, while some stations do not have the products for sale even as black marketers have taken advantage of the situation to sell at exorbitant prices.
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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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