Friday, December 2, 2022
HomePoliticsNEWSNigerian To Pay More For Soft Drink As FG Imposes N10/litre excise

Nigerian To Pay More For Soft Drink As FG Imposes N10/litre excise

FG imposes N10/litre excise duty on soft drinks

The Federal Government has imposed a N10 per liter excise duty tax on all non-alcoholic, carbonated and sweetened beverages.

The excise duty tax is one of the amendments made in the Finance Act 2022 which was signed into law by President Muhammadu Buhari on December 31 last year.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this at the public presentation of the 2022 budget.

She said the purpose of the additional tax is to discourage the consumption of excessive sugar by Nigerians which contributes to diabetes and obesity.

The Finance Minister said the new measure is in line with the 2022 budget priorities which enables the government to introduce new sugar tax to raise revenue for health-related and other critical expenditures.

“There’s now an excise duty of N10/ per litre imposed on all non-alcoholic and sweetened beverages.

“And this is to discourage excessive consumption of sugar in beverages which contributes to a number of health conditions including diabetes and obesity. 

“But also used to raise excise duties and revenues for health-related and other critical expenditures. 

“This is in line also with the 2022 budget priorities.”the ministers said.


ALSO READ:  Nigerians React To The Regulation of Social Media Advised By Lai Mohammed
Mary Ama
Mary Ama
A passionate writer with the sauce. I do that to get you entertained without a 404 page.

Leave a Reply

- Advertisment -

Most Popular

Recent Comments

%d bloggers like this: