Bad News for Alcohol Consumers, Smokers As Buhari Approves Tarrif Hike


President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, June 4, 2018 the Minister of Finance, Mrs. Kemi Adeosun, has said.

In a statement in Abuja on Sunday, Adeosun said the President also granted a grace period of 90 days to manufacturers of the products before the commencement of the new duty regime.

She said the new excise duty rates would spread over a three-year period from 2018 to 2020 in order to moderate the impact on prices of the products.

The minister said the new duty regime followed all-inclusive stakeholder engagements by the Tariff Technical Committee of the Federal Ministry of Finance with key industry stakeholders.

According to her, the upward review of the excise duty rates for alcoholic beverages and tobacco was to raise the government’s fiscal revenues.


http://dailybells.com.ng/bad-news-for-alcohol-consumers-smokers-as-buhari-approves-tarrif-hike/

It is a welcome development, one that is long overdue.


Alcohol and Cigarettes are non essential items, hence one can do without them. However if one must drink/smoke, he/she should be ready to pay more money for them.


But I am more concerned about the use of these monies. I hope the government of the day makes good use of these monies to develop and provide the needed infrastructure the country needs.

MichaelMega:



Bad News for Alcohol Consumers, Smokers As Buhari Approves Tarrif Hike


President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, June 4, 2018 the Minister of Finance, Mrs. Kemi Adeosun, has said.

In a statement in Abuja on Sunday, Adeosun said the President also granted a grace period of 90 days to manufacturers of the products before the commencement of the new duty regime.

She said the new excise duty rates would spread over a three-year period from 2018 to 2020 in order to moderate the impact on prices of the products.

The minister said the new duty regime followed all-inclusive stakeholder engagements by the Tariff Technical Committee of the Federal Ministry of Finance with key industry stakeholders.

According to her, the upward review of the excise duty rates for alcoholic beverages and tobacco was to raise the government’s fiscal revenues.


http://dailybells.com.ng/bad-news-for-alcohol-consumers-smokers-as-buhari-approves-tarrif-hike/

Why is Buhari like this na, does not mean one would find it difficult to buy common cigarette and beer to forget about the frustration they have created in this shithole called Nigeria? God is watching.
So they want us to just be thinking about the frustration till we die without having our solace in cin green bottles and benson

Xtine22:

Why is Buhari like this na, does not mean one would find it difficult to buy common cigarette and beer to forget about the frustration they have created in this shithole called Nigeria? God is watching.
So they want us to just be thinking about the frustration till we die without having our solace in cin green bottles and benson

Cigarettes and Booze do not take away the frustration. It only gives you a false sense of calmness and harms your health.