Nigeria, Sept. 24 -- The Manufacturers Association of Nigeria (MAN) has expressed concerns over the proposed introduction of a tax stamp system for excisable goods in Nigeria.

A statement on Wednesday signed by Segun Ajayi-Kadir, MAN, director-general appreciates the government's efforts to harmonise and modernise tax administration, and promote greater accountability within Nigeria's tax system through the enactment of the Nigeria Tax Act 2025.

However, MAN said tax stamps often hinder local industry, erode gains in tax simplification, and yield a limited revenue impact.

"Our members widely welcomed the laws as they provide a simplified tax framework, harmonise the tax regime and deliver relief to industries, particularly the small an...