Beverage Tax: Customs, NAFDAC Boss to Lead Discourse
BY FUNMI ALUKO
As the Federal Government concludes plans to have Nigeria customs begin collection of excise duties on some products such as carbonated beverages, water, tiles, among others; MMS Plus newspaper is set to organize a business summit to deliberate on the policy.
The event with the theme “X-raying the Proposed Excise Duty Regime for Carbonated Beverages in a Recovering Economy” is scheduled to take place on Tuesday November 9th, 2021 at the MMS International Image Centre in Festac, Lagos while Facebook and Zoom virtual connections will also be available.
According to the conference organizers, a discourse on the subject has become pertinent following the reservations that greeted the proposed re-introduction of Excise Duty regime on beverages and other sundry items by the Organized Private Sector (OPS).
Listed to lead the discourse are the Comptroller-General of Nigeria Customs Service (NCS), Col. Hammed Ali (Rtd.); Executive Secretary of Nigerian Shippers’ Council (NSC), Hon. Emmanuel Jime; and the Director General of National Agency for Food, Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye.
Others are President of Manufacturers Association of Nigeria (MAN), Engr. Mansur Ahmed; a trade expert with the Nigerian Economic Summit Group (NESG), Dr. Ikenna Nwosu; National President of Water Producers Association of Nigeria (WAPAN), Mr. Mackson Odiri Egberi and an ex-banker and CEO of Quiet Dimensions Limited, Mr. Ime Udoma; who are expected to serve as panelists at the event.
Also listed to make presentation is the President, Association of Food,Beverage and Tobacco Employers(AFBTE), Engr. Patrick Anegbe; President, Lagos Chambers of Commerce and Industry(LCCI), Mrs. Toki Mabogunje; and Executive Secretary, National Action Committee on African Continental Free Trade Area(AfCFTA),Mr. Frank Anatogu.
Convener of the event and Editor-in-Chief of MMS Plus newspaper, Mr. Kingsley Anaroke said the Chairman of Nigerian Ports Consultative Council (PCC), Otunba Kunle Folarin is expected to moderate the dialogue as a refined economist.
Anaroke said the Nigeria Customs Service is expected to deliver the lead paper ttitled: “The Merits and Demerits of Excise Duty in a Covid-19 Recovering Economy” ,while other agencies and associations will make presentations based on their perspectives on the subject.
Speaking of the event, Anaroke noted that excise duty on carbonated drinks is a critical issue that requires the Customs to engage the masses and stakeholders, to explain the policy’ inherent benefits.
“We expect that questions will be asked and answered at the one-day business discourse. For example, how competitive our soft drinks will be under the African Continental Free Trade Agreement (AfCFTA), in view of the collection of excise.
“Appropriate percentage figure to be adopted for collection if considered imperative, and what will be the implications of the collection or otherwise on the real sector and the economy in the short, medium and long terms.”