Business
Customs Eastern Area Command Generates N4.89bn
The Enugu, Anambra, and Ebonyi Area Command of the Nigerian Customs Service (NCS) has generated N4.89 billion within eight months.
The Area Comptroller, Mr Suleiman Mohammed made the disclosure to newsmen at a stakeholders meeting in Enugu, recently.
Mohammed said that the N4.89 billion was about 45.3 per cent of the projected revenue target of the area command for the year.
According to him, the 2017 revenue target of Customs for the three states is N10.84 billion
“The total amount realised as at August (from January 1) stood at “Four Billion, Eight Hundred and Ninety Five Million, Three Hundred and Eleven Thousand, Eight Hundred and Five Naira, Seventy Seven Kobo (N4, 895,311,805.77) representing 45.3 per cent of the target for the year,’’ he said.
The comptroller attributed the shortfall in revenue of the agency to the lack of border areas in the three states under the command.
He said: “the three states covered by the command have no land borders and as such no frontier stations, rather it’s an excise oriented area with at least 20 excise factories under its control.
“Besides, only 14 excise factories are functional presently whole six are temporarily closed-down.”
Also speaking, the Chairman, National Association of Government Approved Freight Forwarders (NAGAFF), Chief Raymond Okonkwo urged stakeholders in freight industry to tackle facilities related problems at the Akanu Ibiam International Airport, Enugu.
“Let us start with one international airport before talking of cargo airport and the rest of them.
“Enugu is the main eastern-base and this problem should be addressed squarely,’’ Okeke 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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