Coca-Cola, Bigi, Others To Cost More as FG Imposes N10/litre ‘Sugar Tax’ on Carbonated Drinks
The Federal Government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages.
Excise duty is a form of tax imposed on the production, licensing and sale of goods.
Zainab Ahmed, minister of finance, budget and national planning, said this during the public presentation of the 2022 Appropriation Act on Wednesday in Abuja.
According to her, the new policy introduced is in the Finance Act signed into law by President Muhammadu Buhari on December 31, 2021.
In 2019, Zainab Ahmed, the minister of finance, had announced that the government may introduce excise duty on carbonated drinks.
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