Nigerian Private Sector Urges President Tinubu to Halt CETA Bill Passage
The Organised Private Sector (OPS) of Nigeria has formally requested President Bola Tinubu's direct intervention to halt the ongoing legislative process for the proposed Customs, Excise and Tariff Amendment (CETA) Bill, which is currently under consideration by the National Assembly. This significant appeal was made through a detailed advertorial published in major national newspapers and signed by the presidents of all OPS member organizations.
Details of the CETA Bill and OPS Concerns
The CETA Bill specifically aims to introduce a percentage-based levy on the retail price per litre of non-alcoholic beverages, a measure that has raised substantial concerns among Nigeria's leading business associations. The OPS, which represents a broad coalition of Nigeria's most influential economic stakeholders, includes the Manufacturers Association of Nigeria (MAN), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers' Consultative Association (NECA), the Nigerian Association of Small Scale Industrialists (NASSI), and the Nigerian Association of Small and Medium Enterprises (NASME).
In their public statement, the group strongly urged the Federal Government to engage with the leadership of the National Assembly to immediately stop the legislative process and step down the CETA Bill. The OPS emphasized that this action would allow the executive-led fiscal reforms to be fully integrated and properly aligned with existing economic policies.
Rationale Behind the Request
According to the OPS, halting the CETA Bill would significantly strengthen policy coherence, enhance predictability for businesses, and improve the overall effectiveness of Nigeria's excise framework. The group stressed that this approach would encourage structured, evidence-based engagement with industry stakeholders, ensuring that any future fiscal measures effectively balance multiple objectives.
The OPS outlined three key benefits of stopping the bill:
- It would create space for comprehensive stakeholder consultation
- It would allow for proper alignment with ongoing executive reforms
- It would ensure future measures balance revenue generation with public health objectives and economic sustainability
The private sector leaders argued that rushing the CETA Bill through legislation without proper consultation could undermine the government's broader economic reform agenda and create uncertainty for businesses operating in Nigeria's challenging economic environment.
Broader Implications for Nigeria's Economy
This development highlights the ongoing tension between legislative initiatives and executive-led economic reforms in Nigeria. The OPS's intervention represents a significant moment in Nigeria's economic governance, demonstrating how major business associations are actively engaging with both the executive and legislative branches to shape policy outcomes.
The call to halt the CETA Bill comes at a critical time when Nigeria is implementing various fiscal reforms aimed at stimulating economic growth, attracting investment, and addressing revenue challenges. The OPS's position suggests that business leaders believe the proposed beverage levy could have unintended consequences for the manufacturing sector, consumer prices, and overall economic stability.
As the National Assembly continues its deliberations on the CETA Bill, all eyes will be on President Tinubu's response to this formal request from Nigeria's organized private sector. The outcome could set important precedents for how future fiscal legislation is developed and implemented in Africa's largest economy.
