Business
EKEDC, LASG Move Against Bypassing Prepaid Meters
The Eko Electricity
Distribution Company (EKEDC) says it will collaborate with the Lagos State Government to strengthen existing laws against individuals or corporate organisations that bypass prepaid meters in the zone.
The EKEDC General Manager, Public Affairs, Mr Godwin Idemudia, told newsmen on Monday in Lagos that the overhaul of electricity laws would assist in reducing the incident of prepaid meter bypassing.
Idemudia said that consumers were no longer deterred by N50, 000 fines stipulated as punishment in the existing laws for bypassing prepaid meters.
“This is the reason why the management is working in collaborating with the Lagos State to fine tune new laws that will have stringent penalty for bypassing prepaid meters”, he said
“The law , he said should be imprisonment without an option of fine for those caught in this act.
“This stringent measure will make consumers to desist from tampering with prepaid meters knowing that it is imprisonment without option of fines. “As at now, it is just a fine of N50, 000 and the consumer may have used energy that was more than that before he was caught,” he said
The general manager said the management would constitute a task force which would comprise of some of their staff and the police that would be moving round to check prepaid meters.
He, however, remarked that any of the staff found conniving with consumers to tamper with meters would be prosecuted and be dismissed with immediate effect if found guilty.
Idemudia also advised the electricity consumers in the zone to always report to the management any official of the zone who collected unauthorised monies.
He urged them to always safeguard electricity installations in their area.
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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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