Business
Bayelsa Residents To Pay Electricity Bill
It has become mandatory for residents in Bayelsa State capital , Yenagoa and its subsurb to pay electricity bills as the state House of Assembly passes a law to that effect.
On resumption of duty as Governor, Chief Timipre Sylva has made it clear that the era of free electricity is over and at every fora had asked residents to get set for payment of electricity consumed.
The new bill however permit the Power Holding of Nigeria (PHCN) to collect tariffs, thereby ousting the existence of the state Electricity Board law 2006.
The bill empowered the state Ministry of Energy to take over all the assets and liability of the now defunct state Electricity Board.
Members of Assembly voted overwhelming for the bill which also states that the existing staff of the Board becomes automatic staff of the ministry of energy, giving the condition that non-staff may opt out within 60 days of the bill coming into force.
The speaker of the House, Mr Werinipre Seibarugu commended the law makers for their effort and expressed optimism that the bill will pave way for the people of the state to enjoy new lease of life in the distribution of electricity in the state.
Residents of Bayelsa State since its creation 12 years have enjoyed free electricity bills till date. The gas turbine built by old Rivers State in 1982 and refurbished many times by the Bayelsa government has been the main source of electricity. It was, however, connected to national grid last year.
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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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