CPPE Urges Rejection of Sugar-Sweetened Beverage Tax Bill to Protect Manufacturing Sector
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian House of Representatives to reject a proposed tax bill on sugar-sweetened beverages. Dr. Muda Yusuf, CEO of CPPE, argues that the bill is ill-timed and could negatively impact the manufacturing sector. The bill, which has already passed the Senate, aims to reform excise duties on these beverages to strengthen public health financing and address non-communicable diseases. However, Yusuf contends that the additional tax burden would increase production costs, raise consumer prices, weaken demand, and threaten jobs. He highlights the existing challenges faced by manufacturers, such as high energy costs and multiple taxes, and warns that further taxation could undermine investor confidence. 
