SBT: Why Nigeria’s Reps should reject additional tax on non-alcoholic drinks – CPPE

The Centre for the Promotion of Private Enterprise has explained wherefore Nigeria’s House of Representatives should cull the Sugar-Sweetened Beverage Tax (non-alcoholic drinks) bill’s passage. 

CPPE Chief Executive Officer Dr Muda Yusuf, successful a connection astatine the weekend, said the bill, if passed by the Green Chamber, would worsen the outgo of accumulation crossed the worth chain. 

According to him, an further taxation connected manufacturers, by hold connected Nigerians contempt harsh economical realities, is insensitive and ill-timed. 

The economical deliberation vessel said the legislature by the National Assembly counters the President Bola Ahmed Tinubu’s stance connected easing doing concern successful the country. 

“The measure is ill-timed, insensitive to prevailing economical realities, and inconsistent with the national government’s committedness to reducing the taxation load connected businesses. 

“Any further taxation load connected the manufacture would inevitably summation accumulation costs, rise user prices, weaken demand, trim capableness utilisation and endanger jobs crossed the worth chain. At a clip erstwhile the system needs stronger concern growth, this Senate connection risks becoming a taxation o...