The local wines and spirits industry with a combined 125,000 work force, contributing N40 billion corporate taxes and Valued Added Tax, VAT, per annum and accounting for N2.17 trillion market capitalisations on the Nigerian Stock Exchange, is now under threat of closure from smuggled foreign brands.
Nigeria: Wine Industry Under Threat From Foreign Brands
Leadership (Abuja), 6 January 2013
The local wines and spirits industry with a combined 125,000 work force, contributing N40 billion corporate taxes and Valued Added Tax, VAT, per annum and accounting for N2.17 trillion market capitalisations on the Nigerian Stock Exchange, is now under threat of closure from smuggled foreign brands.
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