Food Manufacturers Reject Excessive Taxes in Nigeria

During the Association of Food, Beverage and Tobacco (AFBT) 47th annual general meeting held in Lagos State, President Chinedum Okereke warned the federal government against excessive taxation and regulatory burdens that threaten the survival of Nigeria's food and beverage sector. Okereke highlighted the industry's critical role in the economy, contributing to employment, public health, and economic growth.

He noted that companies are struggling with rising operational costs due to multiple tax charges imposed by government agencies without adequate consultation. Okereke reiterated the industry's demand for empirical evidence to justify proposed bans on packaging sales of alcoholic drinks in sachets and small PET bottles, which could worsen unemployment and reduce investment.

He called for the introduction of incentive relief packages for manufacturers facing challenges from rising product costs and foreign exchange issues. AFBT Treasurer Osaro Omogiad disclosed that the association recorded a total income of N165.45 million for the 2025 financial year, a 10.13% increase from N150.24 million in 2024, despite a rise in expenditures.