FG Imposes Fresh Tax On Non-Alcoholic Drinks

Date:

Reading time: 1 Minute

The Federal Government has announced that excise duty of 10 Naira per litre will now be charged on all non-alcoholic, carbonated and sweetened beverages.

The Minister of Finance, Zainab Ahmed disclosed this today at the public presentation and breakdown of the 2022 budget in Abuja.

She asserted that the charge on beverages is a new policy introduced in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021 alongside the 2022 Appropriation Bill.

Ms Ahmed said the new ‘Sugar Tax’ was introduced to raise excise duties and revenues for health related and other critical expenditures in line with the 2022 budget priorities.

She also said it was aimed at discouraging excessive consumption of sugar in beverages, which contributed to diabetes, obesity and other diseases.

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Bouncer Arrested for Allegedly Stabbing Man to Death at Lagos Club

The Lagos State Police Command has detained a bouncer,...

Lagos Head Teacher Sentenced to Life Imprisonment for Defiling Two 7-Year-Old Girls

Justice Abiola Soladoye of the Lagos State Sexual Offences...

IGP Approves N10m Compensation for Families of Officers Killed in Edo Election Accident

In response to the tragic loss of police officers...

Court Dissolves 14-Year Marriage Over Allegations of Infidelity, Charm Test Dispute

A Grade A Customary Court sitting in Mapo, Ibadan,...