Business
EKEDC Apologise Over Epileptic Power Supply
The management of Eko Electricity Distribution Company (EKEDC) yesterday appealed to the residents of Badagry town over epileptic power supply being experienced in the town.
The General Manager, Corporate Communication EKEDC, Mr Godwin Idemudia, made the appeal in a statement made available to The Tide in Badagry, Lagos.
According to the general manager, the feeder supplying the town is grossly overloaded with the transmission power transformers in Agbara.
”We have equally made move to balance the load but we are constraint by their Central Transmission (CT) ration and other technical matters.
”We are managing to patrol this station each time it tripped on overload or earth faults despite the dilapidated bad roads.
”Our technical crew is working round the clock to restore power supply to the town,’’ he said.
Idemudia also pleaded with the people over the outage the abnormality had caused and promised to restore supply to the town as soon as the fault was rectified.
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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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