Business
NPA To Begin Full Automation, Cargo Tracking – Minister
Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed that the Nigerian Ports Authority (NPA) will soon commence the implementation of full automation and cargo tracking to promote ease of doing business across various ports in the country.
He made the disclosure recently in Abuja, when he received a renowned entrepreneur and sustainability expert, Prof. Gunter Pauli, who is on a three-day visit to Nigeria.
A statement by the Director, Press & Public Relations, Henshaw Ogubike, on Friday, noted that Pauli’s visit was facilitated by his partners in Nigeria, Premium Blue Economy Innovation and Investment.
The Minister said the Federal Government is keen on the diversification of the Nigerian economy away from the oil industry; hence, it was intentional when it created the new Ministry of Marine and Blue Economy.
“Again, we are going to be talking of automation of ports to make them more efficient. I would like to tell you that in another two years, it will all change. We are bringing in automation and cargo tracking as we are working on that for implementation”, the statement said.y
The Minister further said the government is interested in partnering with relevant stakeholders under the Public Private Partnership arrangement to maximize and explore the resources of the ocean sector for rapid economic development, improve the livelihood of its people and create jobs as well as preserving the health of the ecosystem.
“70 per cent of the resources that are available actually come from the ocean, and we have it in abundance here.
“I believe in the Public Private Partnership arrangement. The government will create an enabling environment for businesses to thrive and our concept in dealing with these is purely in PPP, and I see quite a lot of opportunities there6”, Oyetola said.
In addition, the Minister noted that the Nigerian waterways have enjoyed adequate security with no single incidence of piracy for the past two years.
He, therefore, called on investors to take advantage of the opportunities and partner with the newly created Ministry to drive development.
“We have sufficient control of our ocean in terms of security and there has been nothing like piracy in our ocean. So, the fear of investors about the safety of their investments is out of it nowt”, he stated.
Speaking earlier during the visit, Professor Pauli said his team was in Nigeria to partner with the Ministry on commercial and technological innovations and job creation around the sector.
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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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