Business
Fuel Scarcity Worsens In FCT
Residents and motorists in the Federal Capital Territory (FCT) and its environ have continued to lament the hardship experienced as scarcity of Premium Motor Spirit (PMS), also known as petrol worsened.
The Tide source who monitored the filling stations on Friday reports that long queues of vehicles were seen at all the stations that have the petroleum product.
Those that have the product were dispensing at N195 per litre, while the NNPC Limited Retail stations were dispensing N194 per litre.
A good number of the filling stations did not have the product.
In the City centre, NNPC Limited Mega station by Church Gate and NNPC Limited retail station at Zone 1, Wuse were seen with long queues of vehicles.
Conoil and TotalEnergies filling stations, opposite NNPC Limited Towers also had long queues of vehicles.
The situation was also the worse along Nyanya-Keffi high way, as many filling stations did not have petroleum product, while along Lugbe, Airport road, queues were seen at Danmana, NIPCO, Shafa and AA Rano filling stations.
Many motorists expressed dissatisfaction over the non-availability of the product, adding that the situation was frustrating and demoralising as they normally stay over the next day to get fuel.
“I usually queue till 12 midnight and the next day to get fuel. If not, my taxi business will suffer a loss,” Mr Ismaila Jimoh said.
My Sadiq Yakubu said though he was on Coupon Queue, to be charged through his credit card but it had not been easy, calling on the Federal Government to hasten up with a laudable decision to resolve it.
Mr Peter Okpe, Manager, TotalEnergies station, who appealed to the government to find a lasting solution to the crisis, said though it always served motorists for 24 hours, but its queues had become too long because enough product was not in circulation.
The source reports that President Muhammadu Buhari recently approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management to find lasting solution to disruptions in the supply and distribution of petroleum products.
Other terms of reference of the committee are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-end tracking of petroleum products, especially PMS to ascertain daily national consumption and eliminate smuggling.
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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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