Excise Duty: Federal Govt Imposes n10 Tax On Soft Drinks, Carbonated Beverages - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (A.M)
January 5, 2022
Minister of Finance, Budget and National Planning, Zainab Ahmed, said
the tax was introduced by government to discourage intake of
carbonated products like Coca-Cola, Pepsi, Sprite and other sweetened
beverages that are associated with excessive sugar related sickness like
obesity and diabetes.
According to reports, about four million Nigerians suffer from diabetes
linked to excess sugar consumption.
The minister made the disclosure today at the presentation of 2022
budget breakdown in Abuja. The new tax law is contained in the
government’s 2021 Finance Act.
The government considers the new measure as one of its 2022 budget
priorities that help to raise more revenue for health-related and other
critical expenditures.