The Federal Government has introduced an excise duty #10 per litre on all non-alcoholic carbonated and sweetened beverages. Since last year November, 2021 Coca-cola Nigeria has a big record of a threefold (300%) increase in E-commerce sales, according to a report from Fitch solutions Coca-cola. We are a growth focused CPG Business and strategic bottling partner of the coca-cola company in 28markets.
The Excise duty is a form of tax imposed on the production licensing and sales of goods Zainab Ahmed Minister of finance, budget and National Planning said this during the public presentation of the 2022 Appropriation Act on Wednesday in Abuja. According to the minister, the newly policy introduced is in the Finance Act signed into law by president Muhammadu Buhari on December 31, 2021 with the policy.
The prices of the carbonated drinks may spoke across the country. In 2019, Zainab Ahmed, the minister of finance had announced that government may introduced excise duty on carbonated drink. In 2020, Hammed Ali, Comptroller – General of the Nigeria Customs service (NCS) had proposed the collection of the excise duty on soft drinks.
He had also put forward the same proposal in 2021 at an interactive session on the 2022-2024 medium term expenditure framework (MTEF), organized by the house of representatives committee on finance, apart from the new “Sugar Tax” in Section 17,Ahmed said the 2021 finance act also raised excise duties and revenues for the health sector.
The minister said the excise duty on soft drinks would discourage excessive consumption of sugar beverages which contributes to diabetes obesity among others.
However, checks by the cable showed that there are other sources of the sugar intake, including alcoholic drinks, biscuits, buns, cakes, dairy products and savory food. “There is now an exercise duty of #10 per litre imposed on all non-alcoholic and sweetened beverages she said. But also used this avenue to raise revenues for health related issues and other critical expenditures.
This is also in line with the 2022 budget priorities. And also to curb the sickness called diabetes the Coca-cola brand of company has made available the Zero sugar brand of Coke to eradicate blood sugar completely from the body and to boost a healthy living and also Varity drink like five alive orange juice in different sizes just to rejuvenate the health of its consumers.
The five alive health living juice is made of pure organic oranges no additive and it is very refreshing and good for the health.
Is a daily exercise juice both for adults and the young ones that can be packed in the lunch box as a daily diet meal. According to the Coca- Cola manufacturing company the sales of coca-cola has boost more sales and create more awareness to consumers to avoid the intake of too much sugar and to reduce early death sentence.
The federal health system in Nigeria has a big enormous record of the huge amount of government fund used in curring the deadly sickness called diabetes and it is not an 100% guarantee that the patient will recover from it or it will be totally flushed out of their blood system because it has to do with the blood which eventually pass out sweat and urine which as a patient you have to diligently treat with caution and care. And there is a table of dietary foods and supplement which the doctor will have to prescribe for the patient. And also some patient will have to be flow abroad for medical treatment and also proper health check for a year and more for good health recovery. As a solution to this, health is wealth every individual, persons and personality must take their health seriously and take the necessary steps to a healthy living, as we all know “HEALTH IS WEALTH”.
