Business
NDLEA Intercepts N2bn Illicit Drugs
By: Nkpemenyie Mcdominic, Lagos
Barely a week after operatives of the National Drug Law Enforcement Agency (NDLEA) seized 14,080kg of codeine-base cd syrup at the Apapa seaport, Lagos, they have intercepted 40,250 kilograms of controlled narcotic worth over N2 billion, imported in two 40ft containers from India.
Director, Media and Advocacy, NDLEA, Femi Babafemi, who stated this in a statement, said the drug bust came on the heels of a similar seizure of 14,080kg codeine syrup and 4,352.43kg cold caps.
The cold caps, the statement said, was used to conceal the 14,080kg codeine syrup in a 40ft container imported from India on the second of February, 2022 at the Apapa port.
According to him, the seizures followed intelligence from foreign partners and cooperation of other port stakeholders such as Customs, DSS, Navy and others.
The latest consignments intercepted on the 8th of February were brought into the country in two containers marked HLBU 2239792 with 1,125 cartons of the drug, and HLBU 1067338 with 1,751 cartons, with a market value of N2, 012, 500, 000.
The consignments were seized at the Port Express Bonded Terminal, Berger-Apapa, after they were discovered concealed behind cartons of hypergra 200mg and deluxe chilly cutters, after which the Agency’s sniffer dogs were brought in to identify the illegal substance.
Reacting to the latest seizure, Chairman/Chief Executive of NDLEA, Brig. Gen. Mohamed Buba Marwa (rtd) said the Agency remains poised to deal decisive blows on drug cartels this year by ensuring that no gram of illicit drug is allowed to come into or pass through Nigeria to other countries.
While commending the officers and men of the Apapa Port Special Area Command of the Agency for their vigilance, he expressed gratitude to foreign partners for sharing timely intelligence and other port stakeholders for their cooperation.
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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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