Business
Power Investors Assure Consumers Of Moderate Tariffs
Electricity consumers in the country have been assured of moderate tariffs by the private investors buying over Power Holding Company of Nigeria (PHCN).
The chairman of the Division Company (DisCo), Round Table of 11 companies that bought PHCN from the government, Dr Ramsome Owan gave the assurance, Friday in an interview with correspondents at the Port Harcourt International Airport, Omagwa.
Dr Owan said although investors have taken over, but electricity pricing are controlled and governed by what the regulators,that is the Nigerian Electricity Regulating Commission (NERC) has fixed to protect the consumers from arbitrariness.
“All the electricity tariff to be paid are to be regulated by government agency for the protection of all consumers while the new buyers will also look at consumers as kings to pay for the industry’s financial responsibility in generation, transmission and distribution,” Dr Owan said.
He further explained that the new owners are not allowed to charge any price that they like outside the controlled rates, noting that consumers should be confident that tariffs will be regulated and profit of investors will equally be regulated not to exceed what will be approved.
Chairman of the Round Table of Power Investors reassured that consumers in Nigeira would have their interest protected by the regulator, pointing out that staff of PHCN are going to be paid their full entitlements before the handing over.
According to him, “part of the agreement with labour is to retain some staff of PHCN for six months because if you allow everybody to go on the same day electricity system will be inherited by the new owners.”
Dr Owan hinted that the exercise will allow the new owner to build up the business and turn the sector around, emphasising that the federal government has shown sincerity and it was the reason for the buyers to pay up the monetary involvement.
He disclosed that government retains 40 per cent and the new buyers 60 per cent of the shares, adding that the buyers will continue with existing equipment on ground for continuity and solicited the protection of the facilities.
Business
NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products
Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.
The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.
The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.
“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.
NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.
