CPPE urges Nigeria's House to reject N10 sugar tax on non-alcoholic drinks
The Centre for the Promotion of Private Enterprise (CPPE) is urging Nigeria's House of Representatives to reject the Sugar-Sweetened Beverage Tax bill that proposes a N10 duty on non-alcoholic drinks. The bill already passed the Senate last Friday.
CPPE CEO Dr Muda Yusuf argues this additional tax is ill-timed and insensitive to Nigeria's harsh economic realities. The thinktank warns it will worsen production costs across the value chain, raise consumer prices, weaken demand, reduce capacity utilisation, and threaten jobs nationwide.
The bill contradicts President Bola Ahmed Tinubu's stance on easing business conditions in Nigeria. At a time when the economy needs stronger industrial growth, CPPE warns this Senate proposal risks becoming a 'tax on production, investment and employment.'
How will this tax impact your beverage consumption habits, small business operations, or investment decisions in Nigeria's growing non-alcoholic drinks market?