The Federal Government has revealed that it plans to raise up to ten point seven trillion naira this year.
Part of that money is expected to come in through taxation, including a newly introduced ten percent tax on soft drinks.
The Minister of Finance, ZAINAB AHMED, made the announcement during a breakdown of the 2022 Budget in Abuja.
ZAINAB AHMED said the other reason for the decision is to discourage people from taking too much soft drinks because of the risk of diabetes.
Meanwhile; the Manufacturers Association of Nigeria has warned that the new tax on soft drinks will not be good for the economy.
In a report, MAN said government could collect up to eighty billion naira from the tax on soft drinks from 2022 to 2025, which it said could lead to loss of revenue to manufactures.
Speaking further; MAN Director-General, SEGUN AJAYI-KADIR, said the new tax would affect beverage producers, whom he said had contributed to the economy, despite current challenges.
Meanwhile; some Nigerians who spoke with Lasgidi FM’s NAJITE ATIRENE, shared mixed reactions to the imposition of ten-naira tax on soft drinks.