The new excise duty on soft drinks announced by the Federal Government may lead to job loss and business failures if implemented, according to stakeholders.
The Nigeria Employers Consultative Association (NECA), The Lagos Chamber of Commerce and Industry (LCCI) and some economists sounded the warning in separate reactions to the Minister of Finance, Budget and National Planning, Zainab Ahmed’s recent announcement.
The Manufacturers Association of Nigeria (MAN) on Thursday said the proposed VAT rate incremement was unfriendly to the manufacturing sector.
The Director-General of the association, Mr Segun Ajayi-Kadir, made the remarks in Lagos, in spite of the rebuttal from the Federal Inland Revenue Service (FIRS) on the issue.
Stakeholders in the alcohol beverage industry on Monday declared their opposition to the recent 500% increase in excise duty rates on alcohol by the Federal Government.
The stakeholders, which includes the Nigerian Labour Congress (NLC), Manufacturers Association of Nigeria (MAN), Distillers and Blenders Association of Nigeria (DIBAN), and the Association of Food, Beverage and Tobacco Employers of Nigeria (AFBTE) expressed their displeasure over the rate hike to a Senate Committee on Finance at a public hearing on the matter.
Alcohol manufacturers in the country are set to raise prices on their goods following the increase in excise duty by the Federal Government on the product which came into effect on Monday June 4, 2018.
According to a report on Friday by the Punch Newspaper, manufacturers said their price increase will take effect immediately and in tandem with the new excise duty regime ushered in by the government.
The Distillers and Blenders Association of Nigeria (DIBAN) has appealed to the Federal government to suspend the implementation of the new excise duty increase on alcohol and tobacco, warning that its imposition could affect the industry’s fortunes and lead to massive job losses.
The association was speaking on Wednesday at a joint news conference held with the Manufacturers Association of Nigeria (MAN) at their Lagos office to protest the new excise duty increase on wines and spirits. The group vowed to resist what they described as “astronomical hike in the excise duty”, lamenting that it will endanger over 250,000 jobs and put at risk investments worth over ₦420bn.
The Manufacturers Association of Nigeria (MAN) has increased its responsible alcohol drinking campaign with the launch of the third phase of the crusade by its Beer Sectoral Group (BSG), which is made up of leading brewing companies in Nigeria such as Nigerian Breweries Plc, Guinness Nigeria Plc and International Breweries Plc operating in 17 locations in various parts of the country.
The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to reverse the newly proposed excise duty rate increase on alcohol and tobacco products, saying that its implementation will lead to job losses and plant closures in the affected industries.
The President, MAN, Dr. Frank Jacobs, spoke on the issue in Lagos on Wednesday while addressing the media on the association’s position on the African Continental Free Trade Agreement.
Nigerian Bottling Company (“NBC”), the bottler of Coca-Cola products in Nigeria hosted the fifth pilot Energy Efficiency Network (EEN) workshop for industries in Nigeria.
The event took place at the company’s Ikeja, Lagos plant on 17th August 2017, and attracted industry stakeholders and participants from other companies in the network and engaging in a series of practice-driven discussions focused on energy efficiency and aimed at supporting the participating companies to identify opportunities for sustainable energy cost savings.
The La Casera Company, a leading soft drinks firm in the country has relaunched its eponymous Apple drink – La Casera Apple drink, a favourite among the youths.
The reintroduction of the brand received endorsements from the regulatory agencies including the National Agency for Food, Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON), as well as from the Manufacturers Association of Nigeria (MAN), distributors and consumers at the event which held at the Oriental Hotel, Victoria Island, Lagos on Friday.
Nigeria imports fruit juices valued at N165bn annually, according to the president of the Manufacturers Association of Nigeria (MAN), Frank Jacobs.
Speaking at a workshop organized by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, Mr. Jacobs noted that in spite of the high rate of fruit production and a vibrant juice market, the country imported fruit concentrates.
