Business
Nigeria Resumes Flight Operations To UAE …After Visa Ban Suspension
Nigeria’s airlines have resumed flight to the United Arab Emirates (UAE) following the finalisation of a historic agreement between President Bola Ahmed Tinubu and President of the UAE, Mohamed Bin Zayed Al Nahyan, on Monday in Abu Dhabi, which has resulted in the immediate cessation of the visa ban placed on Nigerian travelers.
Special Adviser to the President, Media and Publicity, Chief Ajuri Ngelale, disclosed in a statement, Monday.
By this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria immediately.
As negotiated between the two Heads of State, this immediate restoration of flight activity, through these two airlines and between the two countries, does not involve any immediate payment by the Nigerian government.
“In recognition of President Tinubu’s economic development diplomacy drive and proposals today, presented by President Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of U.S. dollars worth of new investments into the Nigerian economy across multiple sectors, including defense, agriculture and others, by the investment arms of the Government of the United Arab Emirates.
“Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks.
“In conclusion, the President wishes to commend the UAE President, Mohamed bin Zayed Al Nahyan, for his unalloyed friendship and his determined effort to join hands with him to fully normalise and reset to excellence, the standard of relations between the two important countries”, according to the statement.
By: Nkpemenyie Mcdominic, Lagos
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Business
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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