Business
Ibom Air To Get 10 Additional Aircrafts Soon – Gov
Ibom Air will soon get 10 additional aircrafts to its fleet, Governor Udom Emmanuel of Akwa Ibom State has assured.
The governor revealed the plan at the weekend while speaking at an event marking the 85th birthday of the Paramount Ruler of Eket in Eket Local Government Area of Akwa Ibom, Obong Etim Abia.
According to him, the state is planning to add ten A220-300 series aircraft to the fleet of Ibom Air.
“As I am leaving here, we are signing fresh agreements that will give us 10 brand new A220-300 Air Buses, so that even when I leave office, it will remain an enduring legacy”, he said.
He also gave assurance on other projects in the state, saying he would ensure that quality is not compromised.
He appealed for patience from Eket residents while reassuring them that all the projects would be delivered and appreciated long after his tenure.
Emmanuel noted with regrets that climate and weather conditions, the COVID-19 pandemic and other natural occurrences had impacted the pace of work in the state.
Some of the projects affected include the Eket Stadium project, the International Market project, roads and other development programmes in the area.
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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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