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Nigeria Introduces Tax on Sugary Drinks to Boost Revenue

Jan. 5, 2022, 2:05 PM

West African nation will charge an excise levy of 10 naira per liter on all non-alcoholic carbonated sweetened beverages to discourage excessive sugar consumption and boost revenue, Finance Minister Zainab Ahmed says in virtual presentation.

  • Additional revenue will be used to fund healthcare and other projects
  • Excessive consumption of sugar in beverages contributes to diabetes, obesity and other health issues, Ahmed says
  • NOTE: Nigeria announced a phased 17% increase in taxes on alcoholic beverages in 2018 to help boost non-oil revenue
  • NOTE: Dec. 22, Nigerian Lawmakers Approve 17 Trillion Naira Budget for 2022
  • NOTE: April 2019, Brewers Battling for Nigerian ...