Skip to main content

Price Of Soft Drinks To Increase as Nigerian Customs Proposes Excise Duty

The Nigeria Customs Service (NCS) is proposing to collect excise duty on soft drinks, abolished in 1993 by the interim national government.

Appearing before a joint committee of the senate on finance and national planning on Thursday, Hameed Ali, comptroller-general of the NCS, said the federal government should lift the tax waivers for companies producing soft drinks within the country.


Ali argued that if companies producing alcoholic beverages and tobacco could pay taxes, those producing soft drinks could do the same.


“We have been pushing for the expansion of our own excise collection. During the (Ernest) Shonekan regime (in 1993), excise was stopped for carbonated drinks manufacturers, like Coca-Cola,” the retired colonel said.


“The only one approved for us are tobacco alcoholic beverages. The understanding then was that tobacco and alcoholic beverages affect the health of citizens and should be taxed.


“But we know that carbonated drinks are also injurious to the health of the people due to the high sugar content.


“Therefore if tobacco and alcoholic beverages companies are paying tax, the carbonated drink manufacturers should also pay.”


Ali also informed the lawmakers that revenue from import would reduce because of a number of agreements Nigeria has signed.


Customs would generate N1.2 trillion before the end of the year because it had already collected N830 billion as of the end of July, the comptroller-general said.


Also speaking at the event, Senate President Ahmad Lawan said there was need to look into why companies such as Coca-Cola do not pay excise duty.


“I don’t understand why Coca-cola for instance should not pay excise,” Lawan said.


“It is an established company all over the world and it dominates the soft drinks industry.”

Popular posts from this blog

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State.  Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic.  Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation.  Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Tension In Uruagu Nnewi As Community Leaders Dare Soludo,Defy Court Order

The President of Uruagu-Nnewi Development Union, Chief Sunday Okoli aka Organizer, and the Obi of Uruagu-Nnewi community in Nnewi North local government area of Anambra State, His Majesty Afamefuna Charles Obi, have swept Soludo's directive to the gutters, by reason of their suspension and subsequent dessolution of the leadership of the community's youth forum, led by Ejike Ifejiofor, and subsequent appointment of caretaker executive to pilot the affairs of youths in the community. The Anambra governor had, through a letter dated August 9, 2024, signed by the Permanent Secretary, Anambra State Ministry of Youth Development, Dr. Martin Agbili, warned the community leaders to stay any action regarding suspension of the Uruagu-Nnewi youth forum. The community had, through its PG, Chief Okoli, written to the Ministry of Youths Development, notifying the ministry of "immediate suspension" of the youth group over alleged insecurity in the area. But the ministry,...