Senate Urges FG To Suspend Excise Tariff Hike

Senate Urges FG To Suspend Excise Tariff Hike
  • PublishedMay 8, 2018

The Senate on Tuesday urged the federal government to suspend the proposed tariff hike to save local distillers of beverages from looming extinction.

It said the computation was done without consultation with the members of the beverages sector and all the stakeholders within the industry.

The upper chamber said the planned tariff review of excise duty on locally produced beverages will kill the fledgling industry which was reported to be presently fragile and may wreak incalculable damage on the economy.

This resolution followed an adopted motion sponsored by senator Benjamin Uwajimogu representing Imo north senatorial district.

In his lead debate, Uwajimogu, said if the excise tariff hike was implemented, it was most likely to cause more unemployment that may affect 250,000 jobs.

The red chamber in consideration of the possible adverse consequences have mandated its relevant committee to initiate and organise public hearing involving the federal government and all stakeholders in order to reach full understanding of all the issues as raised.

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