Business
Host Community Shuns Mobil Parley
Ibeno community in Akwa Ibom State, host to Mobil Producing Nigeria has declined to participate in a meeting with the oil firm to resolve the face-off over frequent oil spills from the Qua Iboe oil fields.Reports say that representatives of the community stayed away from the meeting to press home their demand for payment of cash compensation as against the projects proposed by MPN to compensate the community.However, representatives of Eket, Esit Eket and Onna local government areas attended the meeting with officials of Mobil. The meeting held behind closed doors at Eden Hotels, Eket, on Wednesday.Akwa Ibom State Governor Godswill Akpabio had earlier convened a meeting between the four neighbouring communities affected by the oil spill that occurred on May 1, 2010, after a protest by the youths.The meeting resolved that each council area should raise a committee to meet with the oil firm to agree on acceptable projects to be funded by the oil company.Giving the reasons for not attending the meeting, Village Head of Atia community in Ibeno LGA, Obong Ukot Esenem Ukot, expressed regret that rather than resolve the main cause of frequent oil spills, Mobil chose to deliberate on community development projects.He said, “Ibeno shall have nothing to do with any of such meetings calculated to waste valuable time. Our position remains that compensation for damages and losses incurred by fishermen and the community is not negotiable.”Development project is their social responsibility, and has nothing to do with the damages they did to our environment; they are not in any way related to each other and cannot be exchanged.”When contacted to comment on the boycott, a source at the Public Affairs Department of Mobil at Qua Iboe Terminal declined to comment.
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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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