The Beer Sectoral Group (BSG) has appealed to the federal government to review the country’s current excise duty regime, warning that the existing Ad Valorem structure could cost the industry over N425 billion in losses and trigger a 30 per cent decline in revenues.
The call was made during a meeting between the BSG and the Honourable Minister of Industry, Trade and Investment, Jumoke Oduwole, held at the Ministry’s headquarters in Abuja.
The visit was part of the group’s strategic efforts to align with government policy and sustain long-term viability in the face of mounting economic pressure.
Led by BSG Chairman and CEO of International Breweries Plc, Carlos Coutino, the delegation expressed concern over the unsustainable tax burden placed on beer manufacturers, many of whom are still recovering from the 2023 naira devaluation and broader macroeconomic instability.
A technical report presented by PricewaterhouseCoopers (PwC) during the meeting revealed that current excise policies have not only eroded industry revenues but are also straining affordability.
