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FG imposes N10/litre excise duty on soft drinks

FG imposes N10/litre excise duty on soft drinks

The federal authorities has launched an excise obligation of N10/litre on all non-alcoholic, carbonated and sweetened drinks.

 

Zainab Ahmed, minister of finance, funds and nationwide planning made the announcement throughout a public presentation of the 2022 Appropriation Act in Abuja on Wednesday January 5. 

 

Ahmed mentioned the excise obligation was launched in step with the Finance Act signed into regulation by President Muhammadu Buhari on December 31, 2021. She additionally added that this would possibly discourage extreme consumption of sugar drinks which contributes to diabetes, weight problems amongst others. 

 

The Minister mentioned; 

 

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

“And that is to discourage extreme consumption of sugar in drinks which contributes to quite a few well being circumstances together with diabetes and weight problems. 

“But additionally used to boost excise duties and revenues for health-related and different essential expenditures. 

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

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