Business
Danger Borrow Pit: Community Seeks Oil Firm’s Intervention
The people of Oboburu Community in Ogba/Egbema/Ndoni Local Government Area of Rivers State have appealed for the intervention of the French oil giant, Total E&P Nigeria Limited in filling up a dangerous borrow pit in the area.
They alleged that two persons drowned in the pit last year
Owner of the land were the pit was dug, Mr Augustine Ejike Ugorji, said the victims Godstime Chinonso Ago, a sisteen – year boy and Mr Odili Elemele, got drowned in the pit last year.
He further stated that another middle aged man escaped death from the pit recently as he was rescued by some good neighbors when he fell into the pit.
Ugorji explained that the pit has been covered by overgrown grass making it difficult for people to notice the presence of the pit.
He said the pit was dug by the oil firm for excavation of sand for its road construction of the company’s base camp in OML58.
Ugorji called on the company to expedite action towards closing the pit with sand for the safety of the people in the area.
Chris Oluoh
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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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