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The Chief Customs Officer, Adewale Adeniyi, has urged for more rigorous data verification and broader involvement from interested parties in current financial and regulatory changes, as the Nigeria Customs Service (NCS) welcomed the leaders of the Beer Industry Group at its office in Maitama, Abuja.

The event, held in the CGC’s Board Room, was attended by top executives from leading brewing companies nationwide and centered on tax management, trade openness, and the increasing discussion about the proposed tax stamp policy being reviewed by the government.

Speaking to the delegation, CGC Adeniyi stated that policy choices influencing key areas of the economy should be based on reliable data and a common grasp of market conditions.

“We must have a clear grasp of what qualifies as illegal trade. Certain of these items are lawfully produced in Nigeria. In other regions, customs authorities are already discussing how such goods move across borders and end up in unauthorized markets,” said CGC Adeniyi.

He emphasized that although the government keeps working on reforms to enhance revenue security and adherence, the reliability of industry representatives’ data provided to decision-makers must stay unquestionable.

“One aspect we need to grasp more clearly is the origin of some of these estimates. When it comes to making policy decisions of this kind, the reliability and precision of the data must never be questioned,” he added.

The CGC highlighted continuous improvements within the Service, mentioning that various trade enhancement mechanisms have been implemented to minimize delays and boost efficiency throughout the supply chain.

“We have regularly launched programs designed to ease trade. We implemented the Advance Ruling. We also launched the Authorised Economic Operator program. Additionally, we carried out several reforms on our own initiative, not due to external pressure, but because we saw the necessity to enhance trade facilitation,” he stated.

Concerning the suggested tax stamp regulation, CGC Adeniyi mentioned that discussions are still in progress, noting that the government has not yet made a definitive implementation choice.

“From my perspective, discussions are still in progress. If this effort is valid and advantageous, then it is our duty to make sure we are moving in the correct path,” he said.

He called on private-sector partners to increase their interaction with appropriate government bodies in order to reach a fair result that safeguards income while supporting manufacturing expansion.

Previously, Girish Sharma, the head of the delegation and Chief Executive Officer of Guinness Nigeria Plc, stated that the industry had come forward to express its issues regarding the proposed tax stamp system, which he mentioned has sparked considerable discussion within the sector.

Sharma mentioned that although the group recognizes the significance of regulatory measures, the beer industry is among the most organized and strictly supervised areas in Nigeria, with very limited chances of encountering counterfeit products.

“We completely recognize the role and significance of tax stamps, especially in sectors where counterfeiting is a significant issue. However, in the beer industry, counterfeiting is rare,” Sharma stated.

He mentioned that current monitoring systems already offer comprehensive visibility throughout production and distribution processes.

“From a comprehensive compliance standpoint, we think there is already enough transparency and monitoring,” he stated.

Sharma also emphasized the sector’s economic impact, pointing out its part in creating jobs, generating tax income, and contributing to the country’s production, while cautioning that extra regulatory requirements might lead to unexpected financial effects if not properly managed.

Provided by SyndiGate Media Inc.Syndigate.info).