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We introduced excise duty on carbonated drinks to save lives — FG
The Federal Government (FG) has claimed it imposed an excise duty of N10 per litre on all non-alcoholic, carbonated and sweetened beverages such as Coca-Cola, Pepsi, Bigi Apple to save the lives of Nigerians.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this during the public presentation of the 2022 budget on Wednesday in Abuja.
Excise duty is a form of tax imposed on the production, licensing and sale of goods.
According to her, the new policy introduced is in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021.
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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.”
