Business
Activist Explains Delay In Modular Refineries’ Take Off
A Niger Delta activist, Chief Anabs Sara-Igbe says the delay in the commencement of the building of the modular refineries in the Niger Delta region is due to attempt by some persons to come up with laws that would be unfavourable to the people of the region.
Sara-Igbe made the disclosure in a media parley in Port Harcourt over the weekend, saying, “the delay in the commencement of modular refineries was due to some persons attempting to put forward policies that will not favour the Niger Delta region”.
He stated however, that these issues have been resolved, noting that the modular refineries will now be built in areas with oil blocks, close to the source of oil, which he explained will benefit the oil bearing communities of the region, the state and the federal government.
The Niger Delta activist also hinted the sitting of the modular refineries must also take accessibility in terms of transportation into consideration including gas flaring.
He used the opportunity to call for the reactivation of the ports in the region, which he described as monbund, pointing out that industrialisation of the region would come only when seaports are functioning to their full capacity.
He called for deabrate actions to be taken towards the restructuring of the Niger Delta struggle to dispel the negative security reports about the region so as to “attract investors, bring in industry to industrialise the place”.
He said, “ development cannot come if we do not work hard, we must therefore work hard, some other persons are benefiting from the whole struggle we are having and this must stop”.
Tonye Nria-Dappa
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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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