Senate’s CETA Bill at Third Reading: Will New Excise Taxes Sink Jobs and Growth?

The Senate is set to vote on the Customs and Excise Tariff Amendment Bill at its third reading. This law could raise costs for Nigerian manufacturers at a time of severe economic stress. Inflation and naira volatility have driven up production expenses. Adding new excise duties may force factories to scale back, delay investments, or cut jobs. The beverage industry alone supports a vast value chain of farmers, transporters, retailers, and SMEs. Yet it is already one of the most heavily taxed sectors. Higher levies risk harming millions of workers and small businesses nationwide. Public health goals should not override the need to protect investment, industrial growth, and employment. Lawmakers should pause, reassess, and ensure CETA aligns with Nigeria’s economic priorities and long-term development objectives.

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