Business
Oil Theft: Navy Arrests 25 Ships …Nabs Five In Ogbogoro
The Eastern Naval Command of the Nigerian Navy said it arrested 25 ships in connection with illegal activities on Calabar-Oron waterways in the last seven months.
The out-gone Flag Officer Commanding (FOC) of the command, Rear-Adm. Atiku Abdulkadir, made this known while handing over to his successor, Rear-Adm. James Oluwole in Calabar.
He said that the illegal activities included adulteration of crude and theft of petroleum product, adding that the arrests were made on suspected oil thieves, tugs and Cotonou boats.
“It is to the glory of the command that during my watch as FOC, we had gallant officers who had the passion to ensure that crude oil theft and maritime crimes are reduced.
“The command under my watch had also destroyed several illegal refineries on a daily basis. We get the information, we proceed on patrol, we arrest and destroy them,” he said.
Abdulkadir said that the destruction of impounded items was done in line with the Nigerian Navy’s mandate, which was to clampdown on crude oil theft and illegal refineries.
“We also maintain a steady patrol on our maritime domain to ensure that we secure the nation’s economic assets and other multi-million dollar offshore investments and platforms,” he said.
He said that Nigerian Navy Ships `Okpabana and Sagbama’ rescued a hijacked foreign ship `MT Maximus’ off the coast of Sao Tome in February, 2016.
“We will continue to maintain our presence at sea in order to curb illegal movement, sea piracy, hijack of passengers’ vessels, oil theft and others,” he said.
Meanwhile, the Nigeria Navy says it uncovered an illegal oil bunkering site at an abandoned warehouse in Ogbogoro area of Obio/Akpor Local Government Area of Rivers State.
The Commandant of the Nigeria Navy Ship (NNS), Pathfinder, Commodore Sanusi Ibrahim, who led journalists to the illegal site, said five persons including an engine repairer were arrested at the scene.
Ibrahim, who was represented by the Base Operations Officer, Lieutenant Commodore Sunday Katuka Haruna, said over 500 drums loaded with illegally refined petroleum products were seen at the site.
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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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