• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, September 9, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Controversy Trails New Tax Policy On Beer

The policy added that N75 per litre will be charged on “beer and stout including all alcoholic beverages and beer not made from malt – whether fermented or not” in 2023, adding that this new excise duty on beer and stout will be increased to N100 per litre in 2024.

by Kingsley Okoh
2 years ago
in Business
beer
Share on WhatsAppShare on FacebookShare on XTelegram

Reactions have continued to trail the newly introduced tax laws on imported vehicles, alcohol, beverages and single-use plastics by the federal government as well as its plan to further increase the number of banned items being imported into the country.

Advertisement

This is even as the stakeholders affirmed that the Naira Scarcity and redesign policy by the CBN dented the growth of the beer and beverage sector while urging Government to protect home-made products.

This fiscal policy measures for 2023 and signed by Zainab Ahmed, the minister of Finance, Budget and National Planning as part of its annual policy with focus on protecting home-made goods, create provision for excise on green taxes as well as to ensure that the Economic Community of West African States (ECOWAS) treaty, which Nigeria is a signatory to, is equally implemented.

The policy added that N75 per litre will be charged on “beer and stout including all alcoholic beverages and beer not made from malt – whether fermented or not” in 2023, adding that this new excise duty on beer and stout will be increased to N100 per litre in 2024.

Reacting, the Fiscal Policy Partner and Africa Tax Leader at PwC Nigeria, Taiwo Oyedele, described it as the president’s parting gift to Nigerians while suggesting that the newly introduced 2023 Fiscal Policy Measures and Tariff Adjustments surfaced at an inappropriate time considering how unstable the economy has been in recent times.

ADVERTISEMENT

Oyedele revealed that some of these increases were as high as 90-95%, noting that, government’s decision to top up the increase was uncalled for, regarding the fact that, food beverages and tobacco, are the largest sub-sector within the manufacturing, accounting to 40% and over the past 7 years, the average growth rate has been about 2%.

RELATED

Customs Recovers N72.4m From Importers At Lagos Seaports

Clearing Agents Decry Rising Demurrage Over Bank Server Outage

31 minutes ago
NIMR Faces Power Outage Over ₦38m Debt

Transmission Company Warns Against Building Under Power Lines

32 minutes ago

He added that, last year, the sector recorded a negative growth while decrying the ripple effect that such will have on about 9 million people who directly or indirectly depend on it for livelihood.

“The naira scarcity has dented the growth of the sector with significant decline to some of the record declines in double digits that has not been seen in decades. When you find sectors struggling with issues like that, we have countries like UAE, and South Africa, who have suspended exercise on Tobacco, alcohol and wines. They cancelled it because, based on their data, it was not helping their economy in terms of tourism and entertainment,” he pointed out. 

ADVERTISEMENT

The African Tax Leader urged the government to prioritise on the well-being and growth of the economy and the citizenry.

“If you can’t suspend exercise, why do you further increase at a point where the economy is struggling? While we understand that the government assigns commitment around Co2 and wants to get to net zero by 2060, it is important that we put the national interest first by consulting widely with all the parties that will be affected. Use data for the decisions so that you will know the likely impact not only on the industries but also on the entire value chain,” he said.

 


Join Our WhatsApp Channel



SendShare10174Tweet6359Share
ADVERTISEMENT
Previous Post

FMDQ Exchange Lists N12.2bn Greenwich Merchant Bank’s CP

Next Post

Stanbic IBTC Promotes Community Devt, Sports Entertainment

Kingsley Okoh

Kingsley Okoh

You May Like

Customs Recovers N72.4m From Importers At Lagos Seaports
Business

Clearing Agents Decry Rising Demurrage Over Bank Server Outage

2025/09/09
NIMR Faces Power Outage Over ₦38m Debt
Business

Transmission Company Warns Against Building Under Power Lines

2025/09/09
Mixed Performance On Equities Expected This Week
Business

Stock Market Investors Reap N262bn In New Trading Week

2025/09/09
NECA Seeks Federal Govt’s Collaboration To Drive Economic Reforms
Business

NECA Champions Business Growth At Africa Employers’ Summit

2025/09/09
Government, Stakeholders Assure Tech Startups Of Technical, Funding Supports
Business

Government, Stakeholders Assure Tech Startups Of Technical, Funding Supports

2025/09/09
Firm Urges Brands Synergises AI Adoption To Enhance PR Efforts
Business

AI Key To Redefining Scalability Across African Enterprises

2025/09/09
Leadership Conference advertisement

LATEST

South West: A Legacy At The Crossroads

Clearing Agents Decry Rising Demurrage Over Bank Server Outage

Transmission Company Warns Against Building Under Power Lines

Stock Market Investors Reap N262bn In New Trading Week

NECA Champions Business Growth At Africa Employers’ Summit

Government, Stakeholders Assure Tech Startups Of Technical, Funding Supports

AI Key To Redefining Scalability Across African Enterprises

‘Policy, Infrastructure, Business Models Critical To Shape Audience Behaviour’

Zoho Expands AI Suite With Agents, Studio Tools

Bankit MFB Showcases Nigeria’s Fintech Growth Story At GITEX Africa

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.