Business
MOWCA Seeks Transit Trade Between Nigeria, Chad
The Secretary General, Maritime Organisation of West and Central Africa (MOWCA), Dr Paul Adalikwu, has promised to facilitate seamless transit cargo movements from Nigeria’s Dry Ports to the Republic of Chad.
Adalikwu stated this in Nd’jamena, the Chadian capital, during his maiden visit to the Chadian Minister of Transportation, Hajia Fatima Goukouni Weddeye, where he expressed readiness to support the country’s Ministry of Transportation and the Shippers’ Council for the facilitation of transit transport of Chad destined cargoes.
He also promised to make arrangement for officials of Chad government to visit the proximate dry ports in northern Nigeria as a way of preparing grounds for the promotion of intra-African trade in line with the focus, African Continental Free Trade Area (ACFTA).
The MOWCA SG reassured that all 25 member-countries of the organisation, including landlocked states, will enjoy technical support to uncover and harness the economic benefits of a thriving blue economy.
Hajia Weddeye, who commended Adalikwu for championing a reawakening in MOWCA, described the SG as a dynamic leader who has shown transformational traits within a short period.
She said the Ministry of Transportation of Chad and the country’s Shippers Council will deepen collaboration with MOWCA and requested Adalikwu to enable the visit of the technical staff of the Ministry to the Dry Ports established in northern part of Nigeria.
She described the upcoming Regional Maritime Development Bank as a laudable initiative of MOWCA, adding that it will fill the gap of sustainable funding of transport activities that are the backbone of foreign trade.
The Minister said upon study of the bank’s charter by her ministry’s technical team, an informed decision will be taken on the country’s endorsement of the bank.
On capacity building, Weddeye expressed happiness to know the existence of training institutions under the auspices of MOWCA, and requested to have more details on the curriculum for prospective students from Chad to benefit.
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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