CPPE Urges Nigerian Lawmakers to Reject Sugar-Sweetened Beverage Tax Bill Amid Economic Concerns
The Centre for the Promotion of Private Enterprise (CPPE) has called on Nigeria's House of Representatives to reject a proposed tax bill on sugar-sweetened beverages. The bill, which aims to reform excise duties on these beverages, has already been passed by the Senate. CPPE's CEO, Dr. Muda Yusuf, argues that the bill is ill-timed and could harm Nigeria's manufacturing sector, particularly the food and beverage industry. He highlights that the sector is a significant contributor to the country's industrial economy, providing substantial manufacturing output and employment. Yusuf warns that additional taxes would increase production costs, raise consumer prices, weaken demand, and threaten jobs. He also points out that the bill contradicts the government's commitment to reducing the tax burden on businesses. Instead of imposing new taxes, Yusuf suggests focusing on public health initiatives like nutrition education and promoting healthier lifestyles.