JUST IN: SSB tax threatens 33% manufacturing output, 1.5m jobs — MAN

Nigeria's manufacturing sector is sounding the alarm over proposed hikes in excise duties on sugar-sweetened beverages (SSBs). The Manufacturers Association of Nigeria (MAN) warns that these tax increases could severely impact the industry, which currently accounts for approximately 33 percent of the nation's total manufacturing output. The association estimates that the sector supports over 1.5 million direct and indirect jobs.

MAN is actively lobbying against the proposed duty increases, arguing that they would stifle growth and lead to significant job losses. The association contends that the tax, if implemented, would threaten the viability of many businesses within the sector, potentially leading to reduced production and economic instability.

The warning from MAN highlights a critical juncture for Nigeria's industrial landscape. The association is urging policymakers to consider the broader economic consequences and the potential for job destruction before finalizing the new tax structure. The outcome of this debate could have far-reaching effects on employment and the nation's manufacturing capacity.