Business
EKEDC Attributes Power Outage To System Collapse
The Eko Electricity Distribution Company (EKEDC) has attributed the power outage experienced by some of its customers late on Friday to system collapse from the National Grid (NG).
The General Manager, Corporate Communications, EKEDC, Mr Godwin Idemudia,said this in a statement he issued in Lagos, Saturday.
He said that the collapse occurred at about 9.38 p.m. on Friday but was restored early on Saturday morning.
Idemudia apologised to EKEDC’s customers affected by the outage, explaining that it was not the company’s fault.
The general manager also denied allegations of mass disconnection of consumers’ lines by the disco.
He said that those disconnected were customers owing the company.
He warned customers against harassing or assaulting EKEDC’s officials carrying out their statutory duties.
He said that the company would no longer tolerate the assault of its staff.
Meanwhile, the Chairman, Ebute-Meta Landlords’ Association, Alhaji Nurudeen Muritala, has urged EKEDC to provide prepaid meters to residents of the area.
Muritala, speaking to newsmen decried the issuance of estimated billings to residents of the area by the company.
He urged EKEDC to cover the area in its ongoing prepaid meter installation, adding that the customers in the community were always paying their monthly bills promptly.
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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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