Business
… Seals Petrol Station For Operating Without Licence
The Department of
petroleum Resources (DPR) in Kwara State, has sealed a filling station for operating without licence.
The controller of DPR in the state, Mr Amos Jokodola, disclosed this in an interview with newsmen in llorin, the state capital.
Jokodola identified the sealed petrol station as J S Jomo in Jebba, Moro Local Government Area.
He said officials of the department discovered the illegal station during a routine check in the area.
According to him, the owner of the station was unable to produce any genuine papers that qualified the station to dispense fuel.
The controller warned filing stations operating without a licence in the other parts of the state to immediately desist from the act or face sanctions.
He also revealed that another fuel station, RMT Gada Petroleum, also in Jebba, had been shut for allegedly selling petrol at N110 per litre against the official pump price of N87 per litre.
He said surveillance and enforcement of N87 per litre to other local government areas of the state was a continuous exercise.
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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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