Senate on Tuesday demanded the increment in import duties of Cigarettes and Alcoholic products to protect local markets and jobs in the country.
The lawmakers, however, urged the federal government to suspend implementation of the excise Tariff increment until relevant stakeholders are appropriately consulted and engaged for serious discussion.
The positions of the Senate was as a result of the report submitted for considerations by Senate Committee on Finance on the urgent need to review the excise tariff increment in order to save local distillers of beverages from looming extinction.
The lawmakers unanimously adopted four recommendations submitted by the Senate Committee on Finance.
The findings of the committee revealed that majority of the key stakeholder’s players and stakeholders in the beverages and tobacco industries claimed not to be properly engaged during the consultation process that led to the adoption of the new tariff rate.
The finding further revealed that the new tariff rate currently implemented by the government will stand at about 500 per cent after years incremental period.
