👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

MetroNewsSociety

FG Suspends Increase in Taxes on Soft Drinks, Beverages, Alcohol, Others

The Manufacturers Association of Nigeria has praised the Federal Government’s decision to suspend the proposed increase in excise duty on alcohol, non-alcoholic beverages, and tobacco.

The association appreciated the Nigerian government for letting the 2022-2024 Federal Government Sectoral Roadmap run its full circle. Information Guide Nigeria


👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Recall that the proposed tax increase was part of a new policy introduced in the Finance Act, signed into law by President Muhammadu Buhari in December 2021, alongside the 2022 Appropriation Bill. JAMB Result

LEGIT.NG reports that the Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed that the tax raised excise duties and revenues for health-related and other critical expenditures in line with the 2022 budget preferences.

Other Related Stories: 

A report from Punch cautioned that a new tax introduced on soft drinks and others would be counter-productive.

The report added that the government should find other ways of generating revenues rather than stunting the growth of the already-struggling private sector. JAMB Portal

According to LEGIT.NG, Manufacturers Association of Nigeria said: “Still grappling with a recent increase in line with a three-year roadmap, the proposed increase in Excise on Beer, Wines and Spirits, Tobacco and Non-Alcoholic Beverages in 2023 became another nightmare to a sector gasping for survival amidst evident setbacks occasioned by Naira scarcity, forex crunch, infrastructure deficit but to mention a few.” NYSC Portal

Check JAMB RESULT

Check and Confirm: How much is Dollar to Naira

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

 

📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker