Nigerians to Pay More for Beverages, Sweetened Drinks as Federal Government Enforces N10/Litre Sugar Tax
- The federal government will begin collecting N10 for every litre of carbonated sugar drinks and beverages
- The new tax is expected will help reduce the consumption of Sugar-Sweetened Beverages (SSBs) in Nigeria.
- The implementation is despite Manufacturers' plea to FG to halt the plan due to rising cost of production
The federal government has announced the start of a N10 per litre sugar tax on carbonated sugar drinks and beverages, which it claims would assist battle Noncommunicable Diseases (NCDs).
The Chief Superintendent of Customs, Department of Excise, Free Trade Zone and Industrial Incentives, Dennis Ituma made the announcement in Abuja, Dailytrust reports.
The National Action on Sugar Reduction (NASR) organized the event to discuss strategies to implement tax and other interventions to reduce the consumption of Sugar-Sweetened Beverages (SSBs) in Nigeria.
Source: Getty Images
The implementation is taking place despite pleas from the Manufacturers Association of Nigeria (MAN) and other stakeholders for the government to halt the policy introduced in the Finance Act, which President Muhammadu Buhari signed into law on December 31, 2021, alongside the 2022 Appropriation Bill.
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According to a statement issued by Omei Bongos-Ikwue, a representative of the 12-member NASR, customs officers began charging enterprises that made Sugar-Sweetened Beverages on June 1st, 2023, The Punch added.
The statement reads:
“The N10 per litre of Sugar-Sweetened Beverages excise duty was enacted on June 1, and by July 21, all excise charges had to be collected and deposited into the federation account. It may interest you to know that taxing on SSBs was a Federal Government policy in 1984, but it was discontinued in January 2009.
"Previously, SSBs, alcoholic beverages, and cigarettes were all taxed until 2009, when SSBs were removed from the list of taxable beverages."
Economists counter Buhari's claim Nigerian economy is better under him
Meanwhile, Economists, Industrialist and Manufacturers have questioned President Buhari's claim Nigeria's economy is better under him
Buhari had in an interview granted to international media firm, Bloomberg spoke about the successes of said his administration
The president also stated that he is leaving Nigeria’s economy better than he met it in 2015 when he assumed office
Source: Legit.ng
