Business
Modular Refineries: Group Wants Town Hall Meetings
Niger Delta Youths Vanguard for All Progressives Congress, (APC) has urged the Federal Government to hold town hall meetings with community stakeholders on the planned modular refineries in the region.
In a statement made available to The Tide recently in Port Harcourt, the group which held a meeting in warri, Delta State urged the government to stop dealing with the Elder Forum, claiming that the elders were not representing them effectively.
A representative of the group, Mr Fredrick Ojobolo, commended the Minister of State for Petroleum Resources, Dr Ibe Kachukwu, for his efforts in the cease fire initiative in the region.
He specifically called on the minister to take the advice seriously in order to effectively manage the refineries without generating crisis in the Niger Delta.
Ojobolo attributed the success of the ceasefire to the ongoing dialogue between the government, militants and stakeholders in the region due to the doggedness of Kachukwu.
The group’s spokesperson insisted that the youths were in support of the minister as he continued with his initiative for the development of the region.
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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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