Business
Customs Confiscates Tankers With Adulterated Diesel
The Nigeria Customs Service (NCS), Federal Operations Unit, Zone A, has intercepted two tankers with adulterated 80,055 litres of Automotive Gas Oil (AGO), popularly called diesel in Ijebu Ode, Ogun State.
Acting Controller of the unit, Hussein Ejibunu, who disclosed this while handing over the petroleum product to officials of Nigeria Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), said the drivers of the trucks escaped upon sighting customs officers on patrol.
According to him,”after careful study of the documents being used to convey the product and analyses of samples, it was discovered that the papers were forged and the diesel were of poor standard.
He said Customs wrote to NMDPRA to verify the status of the products and authenticate the documents found in the vehicles which were both confirmed to be fake
Giving a breakdown of the seizures and particulars of means of conveyance, the Acting Controller said one of the tanker truck, with registration number DBT 599 XA, was laden with 44,450 liters, while the other one with registration number USL 561 ZC had 35,605 liters of the AGO.
Ejibunu warned that FOU Zone A will always be a no go area for smugglers, duty evaders and perpetrators of other illegal activities.
He advised Nigeians to be patriotic and shun any form of commercial activity that runs foul of the law
A representative of the NMDPRA, Mr Patrick Musa, while receiving the seizures explained that the products were found to be off specification and fell below approved standards for use in Nigeria.
He added that the product could not have been lifted from any approved depots within the country.
Musa commended the NCS for the seizure which he described as the good beginning of a productive synergy.
By: Nkpemenyie Mcdominic, Lagos
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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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