The Senate has called on the Federal Government (FG) to suspend its proposed increase on the export duty for locally produced beverages pending its conclusion of consultations with relevant stakeholders.

Presenting a motion titled ” Urgent need to review the proposed Excise Tariff Increment in order to save Local Distillers of Beverages from looming extinction” at the plenary session of Tuesday, 8 May 2018, Sen. Benjamin Uwajumogu (PDP: Imo) stated that the proposed tariff hike recently approved by the Federal Government was without the consultation of relevant stakeholders such as the Distillers and Beverages Association of Nigeria (DIBAN), subsidiary of Manufacturers Association of Nigeria.

Sen. Uwajumogu noted that the planned review of the tariff on locally produced beverages would affect an industry identified as capable for boosting Nigeria’s economic growth. Speaking further, he stated that the Federal Government was intending to increase the current excise duty paid by distillers from 20% to 67%. He also canvassed that the Senate appeal to the FG to suspend further review of the tariff in view of its likely adverse economic implication to Nigeria’s goal of self-sustenance.

The Senate further resolved to conduct a public hearing on the matter with a view to collate input from relevant stakeholders that could be affected by the proposed policy and proffer appropriate recommendations to the Federal Government.