FG imposes N10/litre excise duty on soft drinks
The federal government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages.
Zainab Ahmed, minister of finance, budget and national planning made the announcement during a public presentation of the 2022 Appropriation Act in Abuja on Wednesday January 5.
Ahmed said the excise duty was introduced in line with the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021. She also added that this might discourage excessive consumption of sugar beverages which contributes to diabetes, obesity among others.
The Minister said;
“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.”
Post Comment