Business
Sea Piracy Accounts For Revenue Shortfall In Rivers – Customs
Attacks by sea pirates on the waterways of Rivers State have been identified as part of the factors affecting revenue generation through sea imports to the state.
Coming up with this in Port Harcourt, Tuesday the outgoing Controller of Customs, Eastern Marine Command, Kankara Usman Bello, made this known to newsmen.
Bello explained that the activities of sea pirates have discouraged importers and ship owners in the region.
“If you are bringing your vessels into the state and along the waterways they are hijacked and attacked, they will not come again”, he said.
The customs boss explained that such a situation was capable of negatively affecting the revenue base of the state.
Controller Bello disclosed that his command has been tackling the challenges of piracy activities through the collaboration with other security agencies, especially the Nigerian Navy.
He however, described Rivers State as an economically viable state following the presence of major seaports.
The customs boss who bowed out on Monday, from active service advised younger officers of the service to take their jobs seriously and accept postings without complaint.
“Whenever you are posted to another location, obey, go and gain the necessary experience”, he said.
He advised that young officers should accept to be exposed to the rudiments of the customs service.
Bello, who retired from active service last Monday, as Commander, Eastern Marine Operations after serving for 35 years expressed gratitude to the Rivers State Government and the people of the state for the support given to him in the past one year and half that he was posted to the state.
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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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