Business
Council Inaugurates Traders Association ELECO
The Caretaker Committee (CTC) Chairman of Oyigbo Local Government Council, Chief Chisom Gbali, has promised to create a business friendly environment for investors and those doing business and living, in the local council area.
Gbali stated this recently at the inauguration of an 11-man committee, for the election of the Eke Oyigbo Ultra-modern Market Association.
“I want to charge you to serve Oyigbo Local Government with some level of integrity, maturity and put on a human face in whatever you do.
“Let us not play to the gallery but play by the rules and be unbiased in your duties”, he said.
The CTC boss further charged the committee members to be sincere, even as he said he had always believed in maintaining integrity in whatever he does.
“Do not go there and favour party A or party B, everybody belongs to me”, he said.
In his charge to the committee, the President General of Traders and Market Unions, in Rivers State, Mr Eddy Bright advised the electoral committee to be fair to all candidates and ensure that the issue of the election did not lead to any disturbances in the area.
“I expect that you will be fair to all those that will participate in the election, and I expect that the process will not lead to breach of the peace due to the election”, he said.
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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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