Nigeria Targets N141.250bn From Sugar Tax On Soft Drinks, Others

With the takeoff of its sugar tax that has seen the rise in prices of some soft drinks, the FG is set to earn billions of naira to support the financing of its national budget.

LEADERSHIP findings show that the government will be raking in over N141.250 billion from the implementation of the N10 sugar tax on soft drinks and dairy products alone annually.

The Nigerian government announced an additional N10 excise duty tax on a litre of soft drinks this year to mobilise more revenues.

The average volume per person in the soft drinks segment was projected at 57.02 litres in 2021.

– Leadership NG