SBT: Why Nigeria’s Reps should reject additional tax on non-alcoholic drinks – CPPE
The Centre for the Promotion of Private Enterprise has explained why Nigeria’s House of Representatives should reject the Sugar-Sweetened Beverage Tax (non-alcoholic drinks) bill’s passage. CPPE Chief Executive Officer Dr Muda Yusuf, in a statement at the weekend, said the bill, if passed by the Green Chamber, would worsen the cost of production across the value chain. According to him, an additional tax on manufacturers, by extension on Nigerians despite harsh economic realities, is insensitive and ill-timed. The economic think tank said the legislature by the National Assembly counters the President Bola Ahmed Tinubu’s stance on easing doing business in the country. “The bill is ill-timed, insensitive to prevailing economic realities, and inconsistent with the federal government’s commitment to reducing the tax burden on businesses. “Any additional tax burden on the industry would inevitably increase production costs, raise consumer prices, we...