Business
NOSDRA Blames Drop In Gas Export On Vandalism
The drop in Nigeria’s gas export by as much as five million standard cubic meters per day (MMSCM/d) has been blamed on the activities of vandals operating in Azikoro community of Bayelsa State.
It was gathered that the drop was sequel to an explosion which occurred at the 24 Ogboinbiri and OB-OB gas pipeline, the gas export feed to the Nigeria Liquefied Natural Gas (NLNG) plant.
The Director-General and Chief Executive Officer (CEO), National Oil Spills Detection and Response Agency (NOSDRA), Mr Idris Musa, confirmed the pipeline blast to newsmen, last Wednesday.
He said that the blast was reported to the agency in the early hours of Tuesday, noting that the damaged facility normally evacuates an average of five MMSCM/d.
Musa said following the notification, a team of officials comprising the Secretary of Azikoro community, the Bayelsa commissioner for Mineral Resources and representatives of NOSDRA visited the incident site early Wednesday.
He said that the Nigerian Agip Oil Company (NAOC), the operator of the facility, was promptly notified of the incident.
“Due to the high pressure, NAOC was directed by NOSDRA to depressurize the facility preparatory for a Joint Investigation Visit (JIV) which will follow immediately to ascertain the cause and extent of the incident.
“NAOC is already at the incident site, with the agency among other stakeholders working to contain the explosion and secure the incident site preparatory to JIV and other remedial measures,” Musa said.
He said that NOSDRA would conduct the investigations in a transparent manner, and pledged that its findings would be made public in due course.
Meanwhile, officials of NAOC declined comments when contacted for reaction.
Some of the residents near the incident site said that they heard sound of explosions on Tuesday morning in the area.
They also alleged that some small batteries and wires suspected to be used by the vandals to detonate improvised explosive device were found in the area.
The gas pipeline was vandalised three times in April, 2022.
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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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