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Standard Times NG

Soft drinks to cost more as FG impose N10/litre tax

Drinkers  of non-alcoholic drinks and carbonated products will have to  pay a little more  as the government has introduced

N10  excise duty per litre of  all  non-alcoholic and  sweetened beverages.

This is part of measures to shore up revenue and address the low taxation in the country.

Speaking during a  public presentation of the 2022 Appropriation Act, yesterday,   in Abuja, Minister  of  Finance, Budget and National Planning, Mrs  Zainab Ahmed, recalled that the  new policy which  is in the Finance Act was signed into law by President Muhammadu Buhari on December 31, 2021.

According to the minister,  apart from increasing revenue, the policy  will also discourage excessive consumption of sugar in beverages which contributes to a number of health conditions including diabetes and obesity

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