Senate President, Ahmad Lawan, yesterday assured manufacturers of non-alcoholic beverages in Nigeria that the National Assembly will address their concerns with respect to the implementation of the Finance Act 2022.
The Finance Act 2022, among other things, imposes 10 per cent tax on non-alcoholic beverages.
Top officials of major players in the industry, drawn from Seven-Up Bottling Company Limited, La Casera Company, Rite Foods Limited and Nigerian Bottling Company Limited, complained to the leadership of the Senate on Wednesday that the tax burden could lead to the collapse of the sector.
Receiving the visitors in his office, the Senate President assured them that the parliament would look into their complaints particularly with respect to the excise duty, according to his Special Adviser (Media), Ola Awoniyi, in Abuja.
Lawan said: “I have listened to your submissions. I want to assure you that everything that we do as a government, an administration, we do so to promote, to support, to protect and foster businesses in our country.
“You are the owners of the businesses. You invested in the soft drink industry in Nigeria. But Nigerians are the beneficiaries because in addition to drinking the soft drink, our citizens also get jobs and for those reasons, it is always at the forefront of our considerations and focus that we must enhance the business environment in Nigeria and create ease of doing business in Nigeria.
“Besides, we are also conscious that the world is a global village. There are so many other areas to which somebody could easily move out. We don’t want to lose businesses in Nigeria to our competitors. So we have to have a competitive environment here.
“I have taken note of how long you have been in Nigeria. The fact that you have stayed for 70 years(NBC) tells a story that the Nigerian environment has provided you the opportunity to invest and also reap from your investment because it is a symbiotic relationship. While you are making profits from your business, we are also getting jobs and other benefits
“I want to assure you that when the Finance Act 2022 was passed into law, we did so unconsciously, trying to address the issues, not to trying to overburden your businesses.
-Thenation
