FG plans to lift tariff on local alcoholic beverages
The Federal Government says it might reconsider the erstwhile 500% tariff it placed on local alcohol beverages in order to create more emp0loyemnt opportunities in that sector.
Dr Chris Ngige, Nigerian Minister of Labour and Productivity gave the hint yesterday in Abuja following a request made to the ministry by the National Union of Food, Beverage and Tobacco Joint Employers and Workers Association.
Ngige through his press director Samuel Olowokere said the planned reconsideration would save the sector from imminent collapse and forestall the consequent loss of about two hundred thousand jobs.
“You have written to the federal government through me that the increase in excise duty on alcohol and beverages will create job losses.
“Because once you add a new cost and pass it on, there will be consumer resistance, resulting in low patronage.
“Whereas the products coming from overseas that are being smuggled in which are cheap will take over the market. It is a statement of fact,” he said.
He assured that the Federal Government through the office of the finance minister as well as the economic management team would review it.