By Ngozi Onyeakusi—The Manufacturers Association of Nigeria (MAN) has warned that the Federal Government’s introduction of N10 excise duty per litre on all non-alcoholic, carbonated and sweetened beverages via the Finance Act will have negative consequences on production, employment and the entire economy.

SUPERNEWS reports that the Minister of Finance, Budget and National Planning, Zainab Ahmed,  who announced the tax at the public presentation of the 2022 budget in Abuja, said the new policy is part of the Finance Bill signed into law by President Muhammadu Buhari on December 31, 2021.She 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 it is 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.”
Also, Ahmed said the government had introduced a law requiring foreign companies  providing digital services in the country to collect and remit Value Added Tax to the Federal Inland Revenue Service.