Zainab Ahmed, the minister of finance, says the federal government is considering introducing excise duty on carbonated drinks.

The minister made this known while addressing journalists on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group.

Excise duty is a levy placed on the manufacture and sale of locally produced goods.

Information provided on the Nigeria Customs Service website shows that excise is currently placed on non-alcoholic beverages, fruit juices, beer, stout and alcoholic beverages.

According to Ahmed, the government is working on maximising existing revenue streams while trying to identify new revenue streams.

“Our objective is to be able to harness the existing revenue streams that we have by ensuring that enforcement is effective to expand the tax base and also to identify new revenue streams that we can add to expand the revenue base,” she said.

“So in expanding the revenue base, we have proposed the increase of VAT but there are also other revenue streams that we are looking at and some of them include the introduction of excise duties on carbonated drinks but there is a process to doing these things.

“Any tax that you are introducing will involve a lot of consultations and also amendments of some laws or introduction of new regulations.

“There are several cost-cutting measures also in the Strategic Revenue Growth Initiative (SRGI) and also a number of cost-cutting initiatives such as innovation and automation as well as capacity building of our people.”

The minister described it as an anomaly that Nigeria’s previous budgets have been funded largely with oil revenue.

“The budget of countries is supposed to be based on taxes that the country is able to generate. It is an anomaly for us in Nigeria that our budgets have not been focusing on revenue,” she said.

“We can only develop in a manner that is sustainable when we are using tax revenues to fund our national and sub-national budgets. It is an anomaly that we are depending largely on oil and gas revenue, which is a resource that is finite. It is going to go out of existence before you know it. So we have to develop the domestic tax base. The main focus will be on expanding the tax base ensuring enforcement of the existing laws and then blocking leakages.

“What we are trying to do in 2020 is to harness the full potential of revenue mobilisation. The only increase in taxes in 2020 budget is just VAT. Everything else is just maximizing the potentials of existing tax streams that we have and we hope that we will be able to do this to be able to move our tax to GDP ratio from the current seven to eight per cent of GDP to 15 per cent.”

Ahmed also expressed hopes that the finance bill will be passed along with the 2020 budget so that the government’s capacity to finance the budget is enhanced.

https://www.thecable.ng/fg-mulls-new-tax-coke-bigi-other-soft-drinks/

This new minimum wage na Greek Gift o!

Excise duty is a levy placed on the manufacture and sale of locally produced goods.

One of Our greatest enermy is FG. They are seriously looking for ways to impoverish nigerians searching every nook and cranny to see where to deal with nigerians.

How can you be jumping up and down shouting we should promote our Indigenous products yet you want to kill them and indirectly kill us with tax. Why won't we prefer foreign to local

After lying to Nigerians that they have recovered hundreds of billions of dollars in looted funds, they are now trying to kill everyone through multiple taxes. This is the only govt in Nigeria's history that slapped Nigerians with numerous taxes with nothing to show for it. From bank charges, Tollgates, VAT, data and call charges, cable tv charges, petroluem charges all in the mids of biting hunger in the land.
What happened to monies they claimed they saved in TSA? Useless regime.

I have never seen a govt of misery like buhari's devilish govt. For the first time in Nigeria's history, eating food, making calls, and drinking soft drinks is no longer a necessaty to survive, but a luxury that must be taxed?! The world's poverty capital!
No doubt this statement is very true; ''When the wicked are in power, the people suffer.''

Nigerians should brace up, it's either we resist this nonsense or sit back and enjoy the next level suffering never witnessed before!!

Well understand but what about all the money EFCC is making for this country? They must seized 45 cars in Osogbo that’s one night raid that happened only in Osogbo.

Everyday we read story of arrested scammers with their cars and gadgets and houses.

What an oppressive, suppressive & repressive government.This tax thing is really driving this useless government crazy.

After increasing VAT even when majority of the affect people are low income earners, they then increase pump price of fuel/electricity tax, then now they want to increase communication tax & tax carbonated drinks.Nigerians really under-estimate the man called Buhari.

Wen I mentioned earlier dis year and last year dat Nigerians will pay heavily for d so called minimum wage d govt is dragging it's foot on.. Now even d price of gala and lacasera ppl survive on is going to add. Next is d increase in d pump price of fuel.. Na now d next level start

In my own opinion, I think the tax on alcohol, champagne and other luxury items should be increased instead of pondering whether to increase tax on beverages or not

Excise duty is a levy placed on the manufacture and sale of locally produced goods.

Lol these companies aren't going to pay the tax. They're going to pass it on the consumer. Nigeria does need tax reform but not this. You guys are already itching for vat increase so why this on top?

I like stuff nairalander grandstar suggests. He should make a thread on it if he hasnt already.

E remain una to tax the air we breathe.

Waiting for zombies to come do the damage control as usual.Clueless idiots.

This is simply slavery while alive.No policy of this government is people friendly but all are satanic. Everyday they're becoming emboldened because of the docility of Nigerians.

Racoon:

This is simply slavery while alive.No policy of this government is people friendly but all are satanic.Everyday they're becoming emboldened because of the docility of Nigerians.

Fortunately this could be a blessing in disguise. For revolution to occur, there must be an atmosphere of hunger, suffering and misery to a level that cannot be tolerated. Thankfully the useless regime is doing a good job in that area.

Joke

Taxing the companies is indirectly taxing poor Nigerians because the companies will quickly increase their prices! Where do they expect people to even get the money to pay all the tax? Minimum wage has not increased, but tax has almost doubled, yet people are not complaining!!

One day Buhari will tax before we can fvck our wives, boyfriends and girlfriends. Na next level taxations

I only pity the miserable and lazy amajirins in the North cuz in the South we will hustle, travel out and then money home to support our family members back home.
Una go wise las las

backnbeta:
Taxing the companies is indirectly taxing poor Nigerians because the companies will quickly increase their prices! Where do they expect people to even get the money to pay all the tax? Minimum wage has not increased, but tax has almost doubled, yet people are not complaining!!

Next time you will vote right

Donald95:

Our greatest energy we have is FG. They are seriously looking for ways to impoverish nigerians searching every nook and cranny to see where to deal with nigerians.

why must u drink coke

NigeriaIsDoomed:
I only pity the miserable and lazy amajirins in the North cuz in the South we will hustle, travel out and then money home to support our family members back home.
Una go wise las las

This is insensitive, callous.and the zenith of stupidity

FarahAideed:
They should increase it we Children of God can afford it let's see whether zombies can afford it ..lets see whether Afamed , commentor , Mannabbqgrill and can afford it ...This govt will end using hunger to kill all the zombies so we Children of God can now have the Nigeria of our desire !!??

Ordinary coca-cola tax and you are whinging.

FarahAideed:


Shut let your mum who handles your bill do the talking..from your comment I know someone is subsidizing your existence and it's your parents

Gerrout.

Coca-cola isn't food or an essential commodity.

Next Level things

[s]

Commentor:


Ordinary coca-cola tax and you are whinging.

[/s]

Commentor:


Gerrout.

Coca-cola isn't food or an essential commodity.

I don't drink Coca-Cola sef when ever I want anything I drink Champagne or carbonated Perrier mineral water so let worry about you and Afamed that love Bigi cola

[s]

Commentor:


Gerrout.

Coca-cola isn't food or an essential commodity.

[/s]

FarahAideed:

I don't drink Coca-Cola sef when ever I want anything I drink Champagne or carbonated Perrier mineral water so let worry about you and Afamed that love Bigi cola

You know a man who was brought up in poverty.

Na ordinary sparkling water you dey take pose again?

Commentor:


Gerrout.

Coca-cola isn't food or an essential commodity.

Lol They essentially want a tax on almost every drink. If you want to escape the tax, drink water and make your own smoothies.

Information provided on the Nigeria Customs Service website shows that excise is currently placed on non-alcoholic beverages, fruit juices, beer, stout and alcoholic beverages

Bastard Buhari !!!!!!

Blue3k:


Lol They essentially want a tax on almost every drink. If you want to escape the tax only drink water and make your own smoothies.

Please educate him