Business
TUC Wants Repeal Of New Pension Scheme In Rivers

L-R: Director of Communication, Office of the Head of the Civil Service of the Federation, Mr Haruna Imrana, the Head of the Civil Service of the Federation, Mrs Winifred Oyo-Ita and Permanent Secretary, Common Services in the Office of the Head of Service, Mr Yemi Adelakun, during inspection visit by the Head of Service to the Federal Civil Service Club at Mabushi in Abuja, recently.
The Trade Union Con
gress of Nigeria (TUC) Rivers State Chapter has called for the repeal of the contributory pension scheme in the state in order to avoid short changing Rivers Workers.
Speaking to The Tide in Port Harcourt on Monday, the state chairman of TUC, Comrade Chika Onuegbu said that the state government must quickly review the Rivers State Pension Laws to conform to the Pension Reform Act of 2014.
Onuegbu said that the state pension law as amended was essentially a domestication of the 2004 Pension Reform Act now repealed and replaced with the 2014 Pension Reform Act which came into effect from July 1, 2014.
The TUC boss said that the contributory pension scheme in the state is totally being abused as many deductions from the workers salaries were not remitted into their Retirement Saving Accounts.
He said that the congress was constrained to take such decision to call upon the state government to repeal the pension laws due to the capricious manner, the subsisting pension law in the state is being administered across ministeries departments and agencies (MDAs).
He added that there are many instances where deductions were made without remittance to Retirement Saving Account, non –deduction from both the government and some public / civil servants years after enrolment.
Onuegbu said that the union will not accept the unposition of pension Administrators on the civil servants by the state government.
He restated the willingness of the union to collaboration with the state government to address challenges of the state pension laws.
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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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