Princess Esu Olumba Olumba Obu Group managing director of Royal Farms Ltd says the high cost of diesel multiple taxations is posing serious threats in sustaining the group business.
Royal Farms she said runs one of the best efficient and profitable businesses but because of incessant taxes by State and local government, coupled with the high cost of diesel most businesses are now faced with the option of closing down or retrenching staff to survive.
Eso Olumba said but not for the Father humanitarian gesture of caring for the less privileged most of Royal Farms’ conglomerate could have been closed down because they now run at a loss.
Read also: Oil’s price surge goes on as Goldman forecasts $90 a barrel on cold winter
Princess Esu Olumba Olumba Obu said this on Friday when the chairman of Correspondent Chapel Eme Offiong led her executive and members to a facility tour of Royal Farms Ltd Producers of Royal water, Royal, confectionaries, Sparkling FM Radio, poultry, piggery, and other aquatic animals in Calabar the Cross River State capital.
Also speaking the managing director of Royal Farms Ltd Bishop Usen Umoh commended the leadership of Correspondent Chapel for the visit nothing that the Holy Father remains the Patron of the Nigerian Union of Journalists and is always ready to identify with the Chapel and the (NUJ)
Earlier in her remarks, the Chairman of Correspondent Chapel Eme Offiong commended Royal Farms Ltd and Brotherhood of the Cross and Star for being the second-highest employer of labour in the State outside the Cross River State government.
Offiong solicited to partner with Royal Farms Ltd especially in its agricultural venture in making life more meaningful.
