You are here: HomeBusiness2022 12 08Article 610997

Business News of Thursday, 8 December 2022

Source: thenationonlineng.net

‘Increase soft drink taxes to curb diabetes, others’

Soft drinks Soft drinks

To reduce the risk caused by non-communicable diseases, such as Type 2 diabetes, heart disease, stroke and cancers, the National Action on Sugar Reduction (NASR) coalition has urged Federal Government to increase taxes on sugary drinks and invest the revenue in public health.

Last year, a N10 per litre excise tax on non-alcoholic, carbonated and sweetened drinks was passed as 2021 Finance Act.

Spokesperson, Omei Bongos-Ikwue, said while the coalition welcomes the tax, it maintains a higher tax rate will make real health impact.

The coalition, which held a peaceful display in Abuja, passed the message that soft drink taxes are a “win” for Nigerians through placards.

Stressing that the taxes will be beneficial to the poor who suffer most from high financial cost of non-communicable diseases, Bongos-Ikwue said: “The poor are most responsive to price changes, and taxes will encourage them to buy less and prevent future life-threatening illness. The billboard display was a means to drive awareness about the importance of a sugar-sweetened beverage tax and harm of consumption to health.

“It is also to call out the beverage industry for putting financial gain over health. The industry has generated profits yet make claims that the N10 per litre tax will collapse their industry. Soft drink sales in Nigeria are the fourth highest in the world, with nearly 40 million litres sold each year. This amounts to billions in profit each year at the expense of public health.”