Business
Elekahia Residents Lament Poor Power Supply
Residents of Elekahia Community in Port Harcourt City Local Government Area of Rivers State have lamented the poor state of power supply in the area, describing the situation as sabotage on the part of the Port Harcourt Electricity Distribution Company (PHED).
Some of the residents who spoke with The Tide Monday said the epileptic power supply in the area had frustrated their businessmen.
A restaurant owner, Mrs Theresa Amadi, said the cost of running her businesses had increased because she had to depend on her private generator to do her business.
She said it was quite embarrassing that staff of PHED still submit escalating bill estimates at the end of every month for services not provided.
Preye Boms who sells frozen food, said her products mostly get spoiled making her to suffer losses because of the poor power supply.
Another business operator, Mr Emmanuel Chima, berated PHED for frustrating Elekahia residents as power supply in the area is dismal.
Chima, who operates a sports bar, accused PHED staff of defrauding residents of the area by collecting illegal money from people and called on the firm to improve its services to justify the bills they collect at the end of every month.
The Elekahia residents also threatened to stage a protest to the Trans-Amadi office of PHED to register their anger over the ill-treatment perpetrated against them by the DISCO.
Taneh Beemene
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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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