Business
Modular Refinery: Operators Form Group To Actualise Proposal
Operators of artisanal refineries in the Niger Delta have formed a group to actualised the Federal Government’s plan to establish community-based modular refineries in the area.
The Tide source reports that the group, tagged Modular Refinery Business Stakeholders’ Forum, was launched in Ughelli, Delta, Monday.
Chairman of the forum, Mr Para Ekiyes, said the forum was to forge a common front that would engage the relevant authorities on the proposal.
Ekiyes said the forum would ensure smooth take off of the policy when the government comes up with the operational guidelines.
He urged government to urgently release the guidelines, which would enable the local people to participate legally in the downstream sector.
He thanked President Muhammandu Buhari for his concern for oil-bearing communities, noting that the actualisation of the plan would give the people a sense of belonging and also reduce restiveness.
The Vice Chairperson of the forum, Mrs Adiboh Adipere, said women were key stakeholders in local refining business, being the only viable source of livelihood for the rural women.
“Our farmlands and rivers have failed to yield produce because of pollution from oil and gas exploration in the area over the years.
“We urge the government to come up with alternative business opportunities for rural women in the creeks,” she said.
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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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