Business
Electricity Consumers Criticise Increase In Tariff
Some electricity consumers in Lagos last Saturday criticised the new increase in electricity tariff being implemented by the Nigerian Electricity Regulatory Commission (NERC).
Some of them, who spoke with our correspondent in Lagos, said that they now paid higher tariff in spite of the epileptic power supply.
It would be recalled that Mr Sam Amadi, Chairman of NERC on June 1 reviewed the country’s electricity tariff.
Mrs Olaide Adewunmi, a hairdresser in Oyingbo, expressed regret that the erratic power supply had crippled her business operations, adding that the increase would affect her income.
She said that it was inconceivable for PHCN to hike electricity tariff at this time when citizens continued to battle with the effect of power outages.
“Government should first embark on infrastructure development in the power sector before implementing hike in tariff.
“We are tired of the whole billing system of PHCN in spite of inadequate electricity supply in the country, ” she said.
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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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