Why Manufacturers Want Increased Alcohol, Tobacco Tax Reversed
It is no longer news that the federal government has announced an increase in excise duties for tobacco and alcohol in Nigeria.
Now, manufacturers in the country are demanding a reversal of the planned hike as they believe that it would lead to job losses.
The manufacturers under the aegis of Manufacturers Association of Nigeria, MAN, said if the government goes ahead to implement the proposal, the firms producing the products will shut down and increase job losses.
MAN’s President Dr. Frank Jacobs, made the call in Lagos on Wednesday while addressing journalists on the association’s position on the African Continental Free Trade agreement.
He stated, “During the last presidential engagement forum, I talked about the impact of this excise duty increase on the manufacturing sector.
“I made it clear that if they go ahead and implement that policy, within the three years when that policy will be in full force, many of the companies that are involved in those product must close shops,” Jacobs said.
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